The naira depreciated against the dollar at the foreign exchange market to end the week on a negative note.
According to FMDQ data, the naira depreciated to N1,563.80 against the dollar on Friday from the N1,554.65 traded on Thursday.
This represents N9.15 loss against the dollar at the foreign exchange market on Friday compared to N1,554.65 traded the previous day.
Similarly, at the parallel foreign exchange market, the naira depreciated to N1,560 against the dollar on Friday from N1,550. The previous day.
The development comes as FX transaction turnover dropped to $126.50 million on Friday from $348.82 million on Thursday.
The depreciation of the naira against the dollar comes despite the recent sale of $122.67 million to 45 authorised dealers by the Central Bank of Nigeria.
Naira ends week on negative note
