The downward trend was also reflected in the Nigerian Foreign Exchange Market (NFEM), where the currency depreciated to N1,446.9 per dollar.
According to data released by the Central Bank of Nigeria (CBN), the official exchange rate moved from N1,445.9/$ on Thursday to N1,446.9/$ on Friday, indicating a N1.9 loss.
With the fresh movement, the gap between the official NFEM rate and the parallel market widened to N29.1 per dollar, up from N27.1 recorded the previous day.
Currency dealers say market pressures, increased dollar demand, and limited liquidity continue to weigh on the Naira across exchange windows.
