The Naira ended the trading week on a downward note, slipping by 0.34% against the US dollar at the official market on Friday.
According to figures published by the Central Bank of Nigeria (CBN), the local currency traded at N1,602.18 per dollar, representing a depreciation of N5.49 compared to the exchange rate of N1,596.69 recorded on Wednesday, April 30, ahead of the Workers’ Day public holiday.
The Naira had shown relative stability earlier in the week, exchanging at N1,599.95 on Monday, N1,599.71 on Tuesday, and N1,596.69 on Wednesday.
Despite the recent dip, the weekly trend indicates only a modest shift, with the currency also recording a marginal loss of 0.02% at the start of the trading week.
The fluctuation comes amid continued efforts by the CBN to stabilize the foreign exchange market.
