This is the weakest it has been since April 8, when the official rate closed at N1,230.61/$1, suggesting downward pressure ahead of the weekend.
The exchange rate at the official window strengthened to N1,072.4 on Wednesday, the lowest since January 2024, as the apex bank stepped up sales to BDCs on the retail end of the market.
This suggests that the exchange rate dropped 8.3% in just two days.
There was also improved liquidity in April, represented by higher daily forex turnovers averaging $196 million per day and a total turnover of $1.9 billion this month alone.
However, the sudden weakness in the naira coincided with a lower daily turnover of $86 million on Friday, the lowest since February 16, when the market recorded a forex turnover of just $84 million.