Naira drops N9 to N1,667/$ on official exchange

The naira weakened by N9 against the US dollar on the official exchange on Wednesday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency was trading at N1,667/$1, up from N1,658/$1 traded at the official window the previous day.

The naira lost N10 against the dollar in the parallel section of the forex market to trade at N1,675/$1 against N1,665/$1 the previous day.

READ ALSO: Nigeria’s naira among world’s worst-performing currencies —Bloomberg

The currency also weakened against the British Pound by N10 to N2,260/£1 from its previous value of N2,250\£1.

The Canadian dollar traded at N1.280|CA$1, the same as the previous N1.280|CA$1.

The currency lost N20 against the Euro and is trading at ₦1,860/€1 compared to ₦1,840/€1 it was trading at on Tuesday.

By: Babajide Okeowo

The post Naira drops N9 to trade at N1,667/$ on official window appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.