At both the official and parallel foreign currency markets, the naira ended the week lower than it started, trading above N1,600 versus the dollar.
This comes as the naira declined to N1,603.78 per dollar on Friday, April 11, 2025, from N1,591.84 exchanged on Thursday according to Central Bank of Nigeria data.
CBN’s official figure showed that the naira declined by N11.94 on a day-to-day basis.
Several Bureau De Change Operators in Wuse Zone 4, Abuja, informed The Intercept on Friday that the naira ended at N1,620 per dollar on the black market, which was the same rate as it was on Thursday.
The naira declined on both foreign exchange exchanges on a week-over-week basis.
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This is because the Naira depreciated by N36.76 to close at N1,603.78 against the dollar on Friday, April 11, compared to N1,567.02 recorded last week, April 4, at the official market.
At the black market, the naira weakened significantly by N60, closing at N1,620 per dollar on Friday compared to N1,560 recorded last week.
