The naira ended the week on a weaker note against the dollar at the official foreign exchange market, marking a depreciation in its value.
According to data from FMDQ, the naira fell to ₦1,543.03 per dollar on Friday, compared to ₦1,541.23 recorded on Thursday, reflecting a loss of ₦1.80.
In contrast, the unofficial market saw the naira appreciate against the dollar. It closed at ₦1,655 per dollar on Friday, up from ₦1,660 the previous day, gaining ₦5 in value.
It is worth noting that on Thursday, the naira had recorded its first appreciation against the dollar.
Additionally, the Central Bank of Nigeria (CBN) launched new financial products for Nigerians in the diaspora. These include the non-resident Nigerian ordinary accounts and the non-resident Nigerian investment accounts, aimed at boosting foreign exchange remittances to the country.
