The Naira depreciated against the American dollar in the official forex market on Friday.
The Central Bank of Nigeria (CBN) Foreign exchange data showed that the Naira slumped to N1, 602.18/$1 as against N1,596.68/$1 it traded on Wednesday.
This represents a loss of N5.50 for the local currency.
In the black market, the Naira gained N2 against the dollar to trade at N1,608/$1 as against the previous day’s rate of N1, 610/$1.
The Naira gained N5 against the British Pound to trade at N2,125/£1 as against the previous N2,130/£1.
The Canadian Dollar still held steady at N1,150/CA$1.
The Naira gained N5 against the Euro to trade at N1,795/€1 as against the previous day’s rate of N1,800/€1.