Naira Sheds N14 to trade N1,567/$ 1 on the official market

Naira continued to depreciate the US dollar on an official window on Friday.

Foreign currency data from the Nigerian central bank (CBN) shows that Naira is traded N1.567.02/$ 1 compared to N1, 552.53/$ 1 which is traded on Thursday.

This shows that Naira depreciated by N14.49 to the dollar every day.

In the black market, Naira depreciated to N1, 565/$ 1 compared to N1, 560/$ 1 the previous day.

Also read: Naira Trades N1.552/$ in the Official Market

This is the loss of N5 for local currencies.

Naira obtained N5 against British pounds to trade N2,015/£ 1 compared to the previous day level N2,020 \ £ 1.

Canadian dollars closed flat at N1.150/Ca $ 1.

Naira closed the flat against the euro to trade in ₦ 1, 670/€ 1.

By: Babajide Okeowo

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