The naira ended the week slightly weaker in the official FX market on Friday.
It closed at ₦1,372/$ as investors positioned cautiously ahead of next week’s MPC meeting.
Traders focused on the Central Bank of Nigeria’s upcoming policy decision.
Weekly Naira Movement
Data from the CBN website showed the naira lost ₦8 over the week.
It closed last week at ₦1,364 per dollar.
This signals a modest week-on-week depreciation.
However, the naira still traded within a tight range.
Market forces kept volatility lower than earlier sharp swings.
Demand pressure continued, although it remained contained.
Throughout the week, the currency moved in small steps.
It opened at ₦1,375 on Monday.
It rose to ₦1,373 on Tuesday.
It strengthened to ₦1,368.95 on Wednesday.
It then slipped to ₦1,371 on Thursday.
Finally, it closed at ₦1,372 on Friday.
Read Also: UK Political Uncertainty Boosts Naira To ₦1,853 Per Pound
External Reserves Support
Nigeria’s external reserves gave mild support.
They rose to $48.54 billion on May 14, 2026.
They stood at $48.45 billion earlier in the week.
The reserves added about $93.9 million.
The CBN did not explain the increase.
However, the gain helped stabilise sentiment slightly.
Market Focus On MPC Meeting
Attention now shifts to the 305th MPC meeting next week. Investors expect clear signals on interest rates and policy direction.
Therefore, market players continue to position cautiously.
Inflation rose to 15.69% in April 2026, up from 15.38% in March.
Price pressures continue to shape expectations.
Earlier reserves also fell by $855 million over five weeks.
This occurred between April 1 and May 7, 2026.
However, they recovered slightly afterwards.
