The Nigerian naira closed the week on a declining note, losing ground against the US dollar in both the official and parallel foreign exchange markets, as it fell to N1,640 per dollar on Friday, down from N1,630 recorded on Thursday.
At the Wuse Zone 4 currency hub, a bureau de change operator, Abubakar Alhasan, revealed on Friday that the naira depreciated to N1,640 per dollar, down from the N1,630 rate recorded the previous day.
“The naira dropped to N1,640 per dollar for Friday from N1,630 traded on Thursday,” he stated.
This reflects a N10 decline in value against the dollar within a 24-hour period.
The official foreign exchange window also reflected similar weakness, as the naira slid to N1,609.63 per dollar on Friday, compared to Thursday’s closing rate of N1,608.60.
The local currency’s downward trajectory continued from Thursday, signaling ongoing pressure across all segments of the FX market.
