The naira closed the week on a downward trajectory, failing to gain ground against the US dollar across both the official and parallel foreign exchange markets.
At the popular parallel market hub in Wuse Zone 4, Abuja, bureau de change operator Abubakar Alhasan revealed on Friday that the naira fell to ₦1,640 per dollar, a decline from Thursday’s rate of ₦1,630—marking a ₦10 loss in value within just 24 hours.
The official market mirrored this dip. Data showed the naira slipping to ₦1,609.63 against the dollar by Friday, compared to ₦1,608.60 recorded the previous day.
The latest figures extend a weakening trend, as the naira continued to depreciate throughout the FX market on Thursday, heightening concerns over the currency’s volatility heading into the new week.
