The naira ended the week on a negative note at the official foreign exchange market, depreciating against the dollar.
According to data from the FMDQ, the naira weakened to N1,543.03 per dollar on Friday, down from N1,541.23 per dollar recorded the previous day, representing a loss of N1.8.
In contrast, at the unofficial market, the naira appreciated slightly against the dollar, closing at N1,655 per dollar on Friday, up from N1,660 per dollar the previous day, gaining N5.
It is worth noting that on Thursday, the naira had recorded its first appreciation against the dollar, coinciding with the Central Bank of Nigeria’s (CBN) launch of non-resident Nigerian ordinary accounts and non-resident Nigerian investment accounts aimed at boosting foreign exchange remittances from citizens in the diaspora.
