The Naira depreciated on Friday at the official market, trading at N1,567.02 to a dollar. Data from the Central Bank of Nigeria (CBN) website showed that the Naira lost N14.49.
This represents a 0.93 per cent gain when compared to N1,552.53 per dollar recorded on Thursday.
The local currency which opened on a positive note after the Sallah holiday gained N5.56 on Wednesday, April 2 representing a 0.36 per cent gain against the Dollar.
However, the local currency slumped by 1.38 per cent on Thursday, April 3 representing a loss of N21.28. The Naira had enjoyed relative stability against the US Dollar since December 2024, due to CBN’s reforms promoting transparency in the foreign exchange market.
