Naira weakens further against dollar, trades at N1,641.27/$1

The Naira, on Friday, depreciated further against the dollar in the foreign exchange market to end the week on a negative note.

FMDQ data showed that the Naira weakened to N1,641.27 per dollar on Friday, from N1,622.57 exchanged on Thursday, recording N18.7 loss.

Meanwhile, the black market remained flat at N1700 per dollar on Friday, the same exchange rate traded on Thursday.

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.

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