The naira depreciated on Friday at the official market, trading at N1,602.18 to the dollar, a drop of N5.49.
According to data from the Central Bank of Nigeria, this represents a 0.34% decline compared to the N1,596.69 per dollar recorded on Wednesday, April 30, just before the Workers’ Day holiday on May 1.
The naira had remained stable for three consecutive trading days—Monday, April 28, through Wednesday, April 30—trading at N1,599.95, N1,599.71, and N1,596.69, respectively.
Closing the week on a negative note, the naira had also opened the trading week with a slight 0.02% loss.
