Naira gains N25.21 against dollar at official FX market

The Nigerian currency, the naira, recovered against the American dollar at the official window on Wednesday.

At the official window, the Central Bank of Nigeria (CBN) foreign exchange data showed that the naira closed at N1,376.19/$1, compared to N1,401.40/$1 on Tuesday.

This represents a gain of N25.21 for the local currency against the dollar.

At the black market, the naira lost N25 against the dollar to trade at N1,465/$1, as against N1,440/$1 the previous day.

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The local currency lost N15 against the British Pound to trade at N1,915/£1 as sgainst the previous day’s N1,900/£1.

The naira closed flat against the Canadian dollar to trade at N1,000/CA$1.

It lost N5 against the euro, trading at ₦1,650/€1, as against the previous day’s ₦1,645/€1.

Babajide Okeowo

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