The naira slipped back into depreciation against the US dollar at the official foreign exchange market on Friday, rounding off the week on a downbeat note.
Data from the Central Bank of Nigeria (CBN) showed that the Nigerian currency fell to ₦1,530.26 per dollar, down from ₦1,525.98 on Thursday—reflecting a daily loss of ₦4.28.
In contrast, the black market remained relatively steady, with the naira holding firm at ₦1,550 per dollar since Tuesday.
On a week-on-week basis, the official rate recorded a mild drop of ₦1.70 from the ₦1,528.56 exchanged last Friday. However, the parallel market painted a slightly more optimistic picture, where the naira appreciated by ₦20 over the same period.
