FMDQ data revealed that the naira depreciated to N1641.27 per dollar on Friday, down from N1622.57 on Thursday, resulting in a loss of N18.7. In contrast, the black market exchange rate remained unchanged at N1700 per dollar on Friday, consistent with Thursday’s rate.
In the week under review, the naira fluctuated between loss and gain against the dollar at the foreign exchange.
The fluctuation in the FX market has been a recurring decimal despite the interventions of the Central Bank of Nigeria in the past months.
