Naira sheds N3.17 against dollar at official window

The Nigerian currency, the naira, slumped against the American dollar at the official window on Tuesday.

At the official window, the Central Bank of Nigeria (CBN) foreign exchange data showed that the naira closed at N1,445.68/$1, compared to N1,442.51/$1 it traded on Monday.

This represents a loss of N3.17 for the local currency against the American dollar.

READ ALSO: Naira appreciates further against dollar at official window, gains N0.86

At the black market, the naira lost N5 against the dollar to trade at N1,490/$1, as against the previous rate of N1,485/$1 of the previous day.

The local currency closed flat against the British Pound and Canadian dollar to trade at N1,985/£1 and N1,200/CA$1, respectively.

The naira lost N25 against the Euro to trade at ₦1,740/€1, as against the previous day’s rate of ₦1,715/€1.

Babajide Okeowo

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