The Naira currency met fresh headwinds across the major segments of the foreign exchange market as it depreciated against the United States Dollar weekend.
At the parallel market, the local currency extended its depreciation against the greenback with a loss of N2 to settle at N524/$1 as against the N522/$1 it quoted on Thursday.
Analysis of the trading also showed that, the Naira fell against the Pound Sterling by N1 to sell at N713/£1 compared to N712/£1 it was sold at the previous session.
Similarly, the local currency depreciated against the Euro by N3 to sell at N608/€1 in contrast to N605/€1 it traded previously.
A look at the Investors and Exporters segment of the market showed that the local currency depreciated by N1.12 or 0.27 per cent on Friday to close at N412/$2 compared with the previous trading session’s rate of N410.88/$1.
During the session, the turnover at the market segment significantly increased by 46.9 per cent or $69.21 million to $216.52 million from $147.31 million of the preceding session.
At the interbank segment of the market, the Nigerian currency closed against the dollar with a loss of 5 kobo at N410.26/$1 versus the previous day’s N410.21/$1.