The Nigerian Naira ended the week weaker against the U.S. dollar, falling by 0.34% at the official exchange window on Friday.
According to data published on the Central Bank of Nigeria (CBN) website, the Naira closed at N1,602.18 per dollar, losing N5.49 compared to the N1,596.69 rate recorded on Wednesday, April 30. This drop came after markets were closed on Thursday for the Workers’ Day holiday.
Before the decline, the currency had shown slight stability earlier in the week, trading at N1,599.95 on Monday, N1,599.71 on Tuesday, and N1,596.69 on Wednesday. The week had begun with a modest dip of 0.02%.
The weakening of the Naira reflects ongoing pressure on Nigeria’s foreign exchange market despite recent efforts by monetary authorities to stabilise the currency.
