The Nigerian naira continued to fluctuate against the United States dollar at the official foreign exchange market on Friday.
Data from the Central Bank of Nigeria (CBN), as reported by Naija News, showed that the naira traded at ₦1,321.2160 to $1 on Friday.
The latest figure represents a slight depreciation compared with Thursday’s exchange rate of ₦1,315.6717 to $1.
At the parallel market, commonly known as the black market, the naira closed at ₦1,405 to the dollar on Friday.
However, rates offered by commercial banks, Bureau de Change (BDC) operators and other foreign exchange dealers may vary from the reference rates due to transaction margins and prevailing demand and supply conditions.
Market participants are expected to continue monitoring foreign exchange inflows, dollar demand and the policies of the CBN to determine whether the naira can maintain its recent performance through the month.