The naira lost N5.54 against the dollar at the official window

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

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,361.39/$1, compared with N1,355.85/$1 on Thursday.

This represents a loss of N5.54 for the local currency against the dollar.

On the black market, the naira lost N2 against the dollar, trading at N1,400/$1, compared with N1,398/$1 the previous day.

The local currency strengthened by N5 against the British Pound, trading at N1,875/£1, compared with N1,880/£1 the previous day.

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The Naira closed flat against the Canadian dollar and traded at N1,100/CA1.

The naira rose N5 against the euro, trading at ₦1,615/€1, down from the previous day’s ₦1,620/€1.

Babajide Okeowo