The naira fetched N5.75 to the dollar at the official window

Nigeria’s currency, the naira, continued its recovery 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 N1,361.04/$1, compared with N1,366.79/$1 on Monday.

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

On the black market, the price of the nair lost N5 against the dollar, trading at N1,395/$1, compared with N1,390/$1 the previous day.

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

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The naira closed flat against the Canadian dollar and traded at N1,100/CA$1.

The currency gained N5 against the euro, trading at ₦1,610/€1, compared with the previous day’s ₦1,615/€1.

Babajide Okeowo