Naira depreciated to N1.620/$ 1 in the Black Market, there was no official tariff

The Nigerian currency, Naira, depreciated the US dollar on the black market on Wednesday, April 9, 2025.

This is even because there is no official tariff from the foreign exchange data of the Nigeria Central Bank (CBN) a few hours after the market is closed.

In the black market, Naira descended to N1.620/$ 1 compared to the previous day level N1, 565/$ 1. This represented the loss of N55 for local currencies.

Also Read: Naira Gain Pantry N0.68 To Recovery From the Day of Depreciation

Likewise, Naira lost the N35 to the British pound to trade at N2,050/£ 1 compared to the previous day level N2,015/£ 1.

Canadian dollars are still being held stable at N1.150/Ca $ 1 the same as the previous tariff N1.150/Ca $ 1.

Naira lost N50 to Euro to trade in ₦ 1,720/€ 1 compared to the previous day level ₦ 1,670/€ 1.

By Babajide Okeowo

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