Naira Trades N1.552/$ in the Official Market

Naira depreciated with the US dollar in an official window on Thursday.

Foreign currency data from the Central Bank of Nigeria (CBN) shows that Naira rose to N1.552.53/$ 1 from N1, 531.25/$ 1 which was traded on Wednesday.

This shows that Naira depreciated by N21.28 to the dollar every day.

In the black market, Naira traded N1, 560/$ 1 compared to N1, 555/$ 1 for the previous day.

This is the loss of N5 for local currencies.

Also read: Naira Trades N1, 536/$ in the Official Market

Naira lost N15 to British pounds to be traded on N2,020/£ 1 compared to the previous day level N2,005 \ £ 1.

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

Naira lost the N10 to Euro to trade in ₦ 1, 670/€ 1 compared to the previous day ₦ 1,660/€ 1.

By: Babajide Okeowo

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