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Naira Ends Week With Drop Against Dollar

Posted by Samuel on Sat 11th Jan, 2025 - tori.ng

FMDQ data showed that the naira weakened to N1,543.03 against the dollar on Friday from N1,541.23 per dollar recorded on Thursday, losing N1.8.

The naira weakened against the dollar, closing the week on a negative note in the official foreign exchange market.

FMDQ data showed that the naira weakened to N1,543.03 against the dollar on Friday from N1,541.23 per dollar recorded on Thursday, losing N1.8.

Meanwhile, at the unofficial market, the naira appreciated against the dollar on Friday to close at N1,655 per dollar from N1,660 recorded the previous day, gaining N5.

Recall that on Thursday, the naira recorded its first appreciation against the dollar.

On Thursday, it was reported that CBN launched the non-resident Nigerian ordinary accounts and non-resident Nigerian investment accounts for citizens in the diaspora to spur FX remittances.