The Nigerian naira declined in value at the official foreign exchange market on Friday, settling at ₦1,602.18 per US dollar.
Figures from the Central Bank of Nigeria (CBN) revealed that the local currency dropped by ₦5.49, marking a 0.34% decrease from the ₦1,596.69 recorded on Wednesday, April 30, prior to the Workers’ Day holiday.
Earlier in the week, the naira showed little movement, trading at ₦1,599.95 on Monday, ₦1,599.71 on Tuesday, and ₦1,596.69 on Wednesday.
Despite the midweek stability, the naira wrapped up the week on a downward trend, having also posted a marginal 0.02% decline at the start of the week.
