The Naira ended the trading week on a bearish note Friday, closing at N1,549.35 to the U.S. Dollar at the official market.
By Grace Alegba
The Naira ended the trading week on a bearish note Friday, closing at N1,549.35 to the U.S. Dollar at the official market.
Data from the Central Bank of Nigeria’s website showed that the local currency lost N9.62k against the dollar.
This marks a 0.6 per cent loss compared to the N1,539.72 per dollar recorded on Wednesday, June 11, before the Democracy Day break.
The Naira, which had seen relative stability since December 2024, showed signs of fluctuation during this week’s trading session.
The News Agency of Nigeria (NAN) reported that the Sallah holiday began on Friday, June 6, and was extended to Monday, June 9.
Following the holiday, the FX market opened on Tuesday and Wednesday before closing again for the June 12 Democracy Day holiday.
On Tuesday, the Naira traded at N1,540.04, representing a 0.8 per cent gain from N1,553.11, the closing rate on Thursday, June 5. (NAN)