The Naira continued its depreciation against the US dollar at the close of the official foreign exchange market on Friday, days after Binance's discontinued Naira-denominated transactions.
data showed that it dropped to N1627.40 per USD on Friday from N1,602.17 on Monday. This represents a N25.23 or 1.5 per cent depreciation at the official forex market on Friday. The depreciation comes despite the surge in the turnover of USD at the official market, which is $269.35 million. In the last week, the Naira had shedded N93.21 compared to the N1,534.19 per USD it started trading on Monday, March 4.
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