Nigeria's currency took a beating on Friday at the official forex market. The naira slipped to N1,361.39 per dollar, weakening from Thursday's N1,355.85 rate.
In just one day, the local unit lost 5.54 kobo against the greenback. Traders at the Central Bank of Nigeria confirmed the figure.
On the parallel market, things remained unchanged. Black market dealers held the naira steady at N1,393 per dollar throughout Friday.
It was a mixed bag for the week overall. Both official and unofficial markets showed conflicting signals on currency movement.
Foreign reserves dwindled further as of May 7. The country's external reserves fell to $48.33 billion, according to latest data.
Nigeria's reserve position continues its downward spiral. Analysts have flagged the persistent decline as a concern for policymakers.
