Naira sheds ₦1.48 at official FX market

The Nigerian currency, the naira, slumped against the United States dollar at the official window on Thursday.

At the official window, the Central Bank of Nigeria (CBN) foreign exchange data showed that the naira closed at N1,358.74/$1, compared to N1,357.26/$1 on Wednesday.

This represents a loss of N1.48 for the local currency against the dollar.

At the black market, the naira closed flat against the dollar, trading at N1,398/$1, the same as the previous day’s N1,398/$1.

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The local currency lost N10 against the British Pound, trading at N1,885/£1, as against the previous day’s N1,875/£1.

The naira closed flat against the Canadian dollar to trade at N1,100/CA$1.

It lost N10 against the euro, trading at ₦1,600/€1, as against the previous day’s ₦1,610/€1.

Babajide Okeowo

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