The naira continued its decline against the dollar in the foreign exchange market on Friday, just before the Eid el-Kabir holidays.
According
to FMDQ data, the naira weakened to N1,482.72 per dollar on Friday, down from
N1,476.24 on Thursday. This marks a depreciation of N6.48 compared to the
previous day's rate.
In
the parallel market, the naira remained steady, trading at N1,490 per dollar on
both Thursday and Friday.
Reports
show that on Thursday, the naira experienced a slight drop against the dollar
as foreign exchange transaction turnover decreased to $92.68 million.
Throughout
the reviewed week, the naira saw fluctuations, appreciating twice and
depreciating twice against the dollar.
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