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Nigeria’s currency, the naira, slumped further against the US dollar at the official window on Monday.
Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,364.23/$1, compared with N1,358.43/$1 on Friday.
This represents a loss of N5.80 for the local currency against the American dollar.
On the black market, Nigeria’s currency, the naira, rose N2 against the American dollar, trading at N1,398/$1, up from the previous day’s N1,400/$1.
Also read: NGX: Equity markets halt bullish run as investors lose N1.3tr
The local currency strengthened by N5 against the British Pound, trading at N1,875/£1, compared with N1,880/£1 the previous day.
The Naira closed flat against the Canadian dollar and traded at N1,100/CA$1 the same as the previous day’s exchange rate of N1,100/CA$1.
The naira lost N10 against the euro, trading at ₦1,620/€1, compared to the previous day’s ₦1,630/€1.
By: Babajide Okeowo
