Naira slumps marginally against dollar at official window, sheds N1

The naira slumped slightly against the dollar at the official foreign exchange window on Wednesday, November 27, 2024.

According to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Nigerian currency slumped to N1, 660.83/$1

This represents a loss of N1.39 against the dollar when compared to the N1, 659.44/$1 it traded on Tuesday, November 26, 2024.

At the parallel section of the FX market, the naira closed flat against the dollar to trade at N1, 750/$1 same as the previous day’s rate of N1, 750/$1.

READ ALSO: Naira recovers against dollar at official window, gains N16

The naira also shed N10 against the British Pound to trade at N2,255/£1 as against the previous rate of N2,245\£1.

The Canadian Dollar continues to hold steady, maintaining its N1,300/CA$1 rate.

The naira however depreciated marginally against the Euro to trade at ₦1,850/€1 as against the previous day’s rate of ₦1,840/€1.

By: Babajide Okeowo

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