The naira weakened further on Friday, falling to ₦1,630 per dollar in the parallel market, down from ₦1,625 on Thursday.
The currency saw a volatile performance throughout the week, beginning with a decline to ₦1,610 per dollar. Compared to its closing rate of ₦1,606 last weekend, the naira has depreciated by 1.49 percent.
According to black market traders, the continued drop in value is driven by rising demand and limited supply of U.S. dollars.
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