The Naira experienced a further decline against the Dollar, finishing the week on a downbeat note.
According to FMDQ data, the Nigerian currency fell to N1609.29 per Dollar on Friday, down from N1603.80 on Thursday, marking a loss of N5.49.
The Naira’s decline was also evident in the black market, where it fell to N1,595 per Dollar on Friday, a significant drop from N1,590 the day before.
This trend indicates that the Nigerian currency performed poorly against the Dollar over the past week.
The last time the Naira improved against the Dollar was the previous week, when the Central Bank of Nigeria(CBN) intervened, selling $106.5 million in the foreign exchange market.