The Naira fetched N4.22 against the dollar on the official FX market

Nigeria’s currency, the naira, recovered against the American dollar at the official window on Tuesday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,401.40/$1, compared with N1,405.62/$1 on Monday.

This represents a loss of N5.81 for the local currency against the dollar.

On the black market, the naira lost N10 against the dollar, trading at N1,440/$1, compared to N1,430/$1 the previous day.

READ ALSO:Naira crosses N1,400/$1 in official FX market

The local currency lost N20 against the British Pound, trading at N1,900/£1, up from N1,880/£1 the previous day.

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

However, it lost N5 against the euro, trading at ₦1,645/€1, compared to the previous day’s ₦1,640/€1.

Babajide Okeowo