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Naira records first depreciation of US dollars in the forex market.
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Naira’s dollar exchange rate fell to N1,500.7 on Friday, according to exchange rate data from the Nigerian Central Bank.
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This decline marks the first decline in the value of the Naira to the US dollar in the past five days.
Naira recorded its first depreciation of the US dollar in the forex market and ended a week in official and parallel markets.
Naira fell to N1,500.7 on Friday from N1,500.5 on Thursday, according to exchange rate data from the Nigerian Central Bank.
This decline marks the first decline in the value of the Naira to the US dollar in the past five days. On a weekly basis, the Naira lost N8.1 against the U.S. dollar, while N1,508.6 was exchanged on Friday, February 14, 2025.
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On the black market, Naira slightly weakened the N1,505 from the dollar between the N1500 and N1503 on Friday, trading on Thursday.
Naira strengthened the N60 against the U.S. dollar compared to the N1565 exchange on the black market on February 14, 2025.
Naira appreciates Naira on the black market for 1,500 per dollar
Naira continues to appreciate the US dollar in the parallel forex markets.
According to Abubakar Alhasan, a change operator in the Wuse 4 area, “the lowest price for the dollar is N1,505 the day before.”
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