Naira depreciates to end the week on a negative note

Naira depreciates to end the week on a negative note

The naira traded against the dollar above the N1,600 mark to end the week on a negative note at both official and parallel foreign exchange markets.This comes as, according to Central Bank of Nigeria data, the naira declined to N1,603.78 per dollar on Friday, April 11, 2025, from N1,591.84 exchanged on Thursday.CBN’s official figure showed that the naira declined by N11.94 on a day-to-day basis.At the black market, the naira closed at N1,620 per dollar, the same rate recorded on Thursday, several Bureau De Change Operators in Wuse Zone 4, Abuja, told newsmen on Friday.On a week-on-week analysis, the naira weakened at both foreign exchange markets.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.

Source: Naira depreciates to end the week on a negative note

 - NigerianEye
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