Ending the week on a negative note, the naira saw a decline against the dollar in the official foreign exchange market on Friday.
According to FMDQ data, the naira’s value dropped to N 1579.89 per dollar on Friday from the previous N1,564.4 exchanged on Tuesday, indicating a depreciation of N15.41.
On the other hand, the naira maintained its rate at N1600 per dollar in the black market on Friday, remaining unchanged from the day before.
This movement follows a notable appreciation of the naira on Thursday.
Throughout the week, the naira displayed varying performance against the dollar post introduction of the Retail Dutch Auction System by the Central Bank of Nigeria.