The Naira further dropped N2 against the Dollar at the black market segment of the foreign exchange (forex) market on Friday.
At the final trading session of the week, the Nigerian currency traded against the greenbank at N455/$1 compared to 453/$1 it sold previously.
Likewise, against the pound, the Naira fell by N1 to close at N553/£1 in contrast to N552/£1 of the previous session, while against the Euro, the local currency closed flat at N490/€1.
At the Bureaux De Change (BDC) segment, data from the Association of Bureaux De Change Operators of Nigeria (ABCON) showed that the Nigerian currency shed N2.50 against the American currency in Lagos to sell at N455.50/$1 versus the previously traded rate of N453/$1.
Against the pound, the Naira lost N5 to sell at N559/£1 as against N554/£1 it was sold on Thursday, but close flat on the Euro at N498/€1.
At the Abuja BDC market, the Naira lost N3 against the Dollar at N455/$1 compared to N452/$1, while against the Pound Sterling, it lost N20 to close at N580/£1 from N560/£1 and went down by N3 against the Euro at N498/€1 from N495/€1.
In Port Harcourt, the domestic currency depreciated by N1.50 against American currency after BDC operators exchanged the Dollar at N453.50 in contrast to the previous day’s N452. Meanwhile, at the same market, the Naira gained N5 on the pound to close at N550/£1 versus N555/£1 of the preceding session, but fell by N2 against the Euro to close at N498/€1 as against N496/€1.
At the Kano BDC market, the Naira closed flat against the three major foreign currencies at N450/$1, N540/£1 and N498/€1 respecitvely.
A look at the Investors and Exporters (I&E) window of the market on Friday, the domestic currency was sold at N386.50/$ as against N385.70/$1 it was traded on Thursday.
During the session, the value of transactions at the FX window depreciated by 43 percent or $28.49 million to $38.12 million from $66.61 million exchanged at the previous session.
At the interbank segment of the market, the Central Bank of Nigeria (CBN) sold the Dollar to commercial banks at N361/$1.
