The naira slumped further against the dollar, down N5.86 in the official market

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

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,386.65/$1, compared with N1,380.79/$1 on Thursday.

This represents a loss of N5.86 for the local currency against the dollar.

On the black market, the naira closed flat against the dollar, trading at N1,410/$1.

The local currency lost N15 against the British Pound, trading at N1,920/£1, compared with N1,905/£1 the previous day.

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

The currency lost N5 against the euro, trading at ₦1,630/€1, compared with the previous day’s ₦1,625/€1.

Babajide Okeowo