The Naira saw a slight rebound against the U.S. dollar on Friday, marking its first appreciation of the week at the official foreign exchange market.
After consecutive days of depreciation, the local currency strengthened to N1,550.36 per dollar on Friday, up from N1,554.85 recorded the previous day.
This reflects a modest gain of N4.9 in day-to-day trading.
However, in the parallel market, the exchange rate remained unchanged at N1,590 per dollar—the same rate as Thursday.
Despite this slight improvement, the Naira experienced a largely depreciative trend throughout the week, only managing to recover on Friday.
Compared to last Friday’s rate of N1,517.24 per dollar, the currency has weakened by N33.12 at the official market.
Similarly, in the black market, the Naira saw a week-on-week decline of N10, sliding from N1,580 last Friday to N1,590 by the close of this week.
