See Exchange Rate As Naira Fall Against Dollar

Naira closed the week slightly weaker, recording a loss of N2.60 against the United States dollar at the official foreign exchange market.

It settled at N1,450.42, according to figures released on the Central Bank of Nigeria’s official website, reflecting a mild but persistent downward drift.

The latest closing rate represents a 0.17 per cent depreciation when compared with Thursday’s level of N1,447.82, which itself showed limited pressure on market stability.

On Wednesday, the Naira exchanged at N1,447.64, marking a 0.1 per cent decline as demand for the dollar continued to outweigh available supply.

The currency had earlier traded at N1,445.39 on Tuesday, representing a 0.2 per cent loss when set beside Monday’s rate of N1,448.43 per dollar.