Over the weekend, the Naira appreciated by ₦125, a 9.8 per cent increase, to reach ₦1,275/$1 from the previous ₦1400/$ at the close of trade on Friday.
Last Monday, the Central Bank of Nigeria sold $15.83m to 1,583 BDC operators to enhance liquidity in the parallel market.
The naira resumed its declining trend against the US dollar at the official foreign exchange market, ending at N1,339/$ on Friday, according to statistics from the FMDQ securities exchange.
In comparison to the N1,309/$ quoted on Thursday, this is a 2.24 percent depreciation, indicating a complete week of devaluation in the official market.
$1 billion worth of trade was conducted at the Nigerian Autonomous Foreign Exchange Market between willing buyers and sellers.
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