Information from the Central Financial institution of Nigeria, CBN, confirmed that the naira weakened considerably to N1,361.84 in keeping with greenback on Friday, from N1,344.40 recorded on Thursday.
Which means that, on a day by day foundation, the naira depreciated by way of N17.44 in opposition to the greenback.
In a similar way, on the parallel marketplace, the naira weakened to N1,385 in keeping with greenback on Friday, from N1,377 recorded yesterday.
In abstract, on the shut of buying and selling on Friday, the naira depreciated throughout each the legitimate and parallel foreign currency echange markets.
The improvement got here regardless of the continuing upward push within the nation’s overseas reserves, which stood at $55.16 billion on Thursday, in step with CBN information.
DAILY POST studies that the naira recorded more depreciation than appreciation in opposition to the greenback throughout each foreign currency echange markets throughout the week below assessment.