The Naira fetched N25.21 against the dollar on the official FX market

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

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,376.19/$1, compared with N1,401.40/$1 on Tuesday.

This represents a gain of N25.21 in local currency against the dollar.

On the black market, the naira lost N25 against the dollar and traded at N1,465/$1, compared to N1,440/$1 the previous day.

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The local currency lost N15 against the British Pound and traded at N1,915/£1 compared to N1,900/£1 the previous day.

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

The currency lost N5 against the euro, trading at ₦1,650/€1, compared with the previous day’s ₦1,645/€1.

Babajide Okeowo