The naira fetches N5.75 to the dollar at the official price

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

READ ALSO: Naira loses N9.49 against dollar in official market

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,382.63/$1, compared with N1,388.38/$1 on Monday.

This represents a gain of N5.75 in local currency against the dollar.

On the black market, the Nigerian currency lost N10 against the dollar, trading at N1,425/$1, compared with N1,415/$1 the previous day.

The local currency lost N25 against the British Pound, trading at N1,920/£1, compared with N1,895/£1 the previous day.

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

The naira lost N20 against the euro, trading at ₦1,630/€1, compared to the previous day’s ₦1,610/€1.

Babajide Okeowo