The Nigerian national currency, the Naira depreciated on Friday at the official market, trading at N1,602.18 to the dollar.
According to the data from the website of the Central Bank of Nigeria (CBN), the Naira lost N5.49.
This figure represents a 0.34 per cent loss compared to N1,596.69 to the dollar recorded on Wednesday, April 30, before the Workers’ Day holiday on Thursday, May 1.
The Naira had remained relatively stable for three trading days, from Monday, April 28, to Wednesday, April 30, when it traded at N1,599.95, N1,599.71, and N1,596.69, respectively to the dollar.
The local currency, which closed last week on a negative note, had opened the trading week with a minimal loss of 0.02 per cent.
GIK/APA