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Nigerian Naira continued to violate the dollar in the forex market on Friday.
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Naira fell to N1,517.24 on Friday from N1,512.30 on Thursday, according to exchange rate data from the Nigerian Central Bank.
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Naira’s depreciation is also reflected in the black market, where it has a depreciation rate of 1,580 n per dollar, which is after the decline of N1,525 earlier this week.
Nigerian Naira continued its downward trend against the dollar in the forex market on Friday, ending with a negative note.
Naira fell to N1,517.24 on Friday from N1,512.30 on Thursday, according to exchange rate data from the Nigerian Central Bank.
Every day, this indicates that the Naira fell to the dollar, compared with the N1,512.30 exchange rate on Thursday.
Also Read: NAIRA Records First Depreciation of USD on Black Market
Meanwhile, the black market Naira remains flat at 1,580 n per dollar, the same rate as Thursday, when it was the highest number of times than N1,525 in the week reviewed this week.
The development was as Nigeria’s external reserves fell by US$1.31 billion, and on February 28, the reserves rose to US$39.72 billion from US$39.72 billion at the end of January 2025.
Naira further depreciates on the black market
Naira continued its downward trend against the US dollar on Thursday in parallel forex markets, exchanging at N1500 per dollar.
According to Abubakar Alhasan, a change operator in Wuse 4, the Naira fell from the N1490 exchange rate the day before.
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