The naira has depreciated against the US dollar in the parallel foreign exchange market, closing the week at ₦1,635 per dollar, a ₦10 daily loss.
This is in contrast to the official exchange window, where the naira recorded a marginal gain, appreciating to ₦1,598.72 per dollar.
The currency’s mixed trading patterns come amid fresh economic data showing Nigeria’s headline inflation eased slightly to 23.7 percent in April, with the Central Bank’s Monetary Policy Committee set to meet to determine the country’s monetary policy stance.
