The Nigerian naira weakened again against the United States dollar at the official foreign exchange market on Friday, continuing its recent volatility in the currency market.
Data from the Central Bank of Nigeria (CBN) showed that the naira closed at ₦1,361.39 per dollar, compared to ₦1,355.85 recorded on Thursday, representing a decline of ₦5.54.
At the parallel (black) market, the naira also depreciated slightly, trading at ₦1,400 per dollar, down from ₦1,398 the previous day.
However, the local currency recorded mixed performance against other major currencies. It gained ₦5 against the British pound to close at ₦1,875/£1, and also appreciated by ₦5 against the euro, trading at ₦1,615/€1.
The Canadian dollar remained stable at ₦1,100/CA$1.
The latest movement highlights ongoing pressure on the naira amid fluctuating foreign exchange supply and demand in the Nigerian economy.
