The naira hit a two-month low against the US dollar on Friday, ending the week with depreciation. The Central Bank of Nigeria reported the official rate at N1,450.43 per dollar, a N2.59 drop from Thursday.
The black market rate closed at N1,475 per dollar, unchanged since Wednesday. Week-on-week, the naira fell by N3.68, despite the country’s foreign exchange reserve rising to $45.04 billion.