The naira depreciated steadily in the official market throughout the week, coinciding with the 304th Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria.
According to Nairametrics’ review of official market data published on the CBN website, the naira opened the week on Monday at N1,353.5/$ and depreciated steadily in subsequent trading sessions, closing the week at N1,368.5/$.
The movement followed the conclusion of the 304th MPC meeting and contrasts with mixed reactions recorded after previous policy decisions.
