Naira slumps, sheds N2.62 against dollar at official window

The Nigerian currency, the naira, reversed it’s several days gain against the American dollar at the official market on Thursday.

The Central Bank of Nigeria (CBN) Foreign exchange data showed that the naira slumped to N1, 599.32/$1 as against N1, 596.70/$1 it traded on Wednesday.

This represents a loss of N2.62 for the local currency.

On the black market, the naira closed flat against the dollar to trade at N1,635/$1.

The naira closed flat against the British Pound to trade at N2,180/£1.

After several weeks of holding steady at N1,150/CA$1, the Canadian Dollar appreciated against the naira to trade at N1,200/CA$1 as against the previous day’s rate of N1,150/CA$1,

The naira lost N5 against the Euro to trade at ₦1,835/€1 as against the previous ₦1,830/€1.

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