Naira Depreciates by 0.34% against US Dollar in FX Market
The Naira depreciated on Friday at the official market, trading at N1,602.18 to the dollar. Spot FX data from the Central Bank of Nigeria (CBN) website showed that the Naira lost N5.49.
This represents a 0.34 percent loss when compared to the N1,596.69 per dollar recorded on Wednesday, April 30, before the Workers’ Day holiday on Thursday, May 1.
The Naira had remained relatively static 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.
The local currency, which closed the current week on a negative note, had also opened the trading week with a minimal loss of 0.02 per cent. #Naira Depreciates by 0.34% against US Dollar in FX Market Pension Fund Assets Grows to N23.366 Trillion
