The Naira crossed N1,400/$1 in the official FX market

Nigeria’s currency, the naira, continued to slide against the American dollar at the official window on Monday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,405.62/$1, compared with N1,393.25/$1 on Friday.

This represents a loss of N12.37 for the local currency against the American dollar.

On the black market, the Nigerian currency closed flat against the American dollar, trading at N1,430/$1, the same as the previous day’s N1,430/$1.

Also read: NGX: Investors gain N147 billion as equity markets start the week on a high

The local currency lost N10 against the British Pound, trading at N1,880/£1, up from N1,870/£1 the previous day.

The Naira closed flat against the Canadian dollar and traded at N1,000/CA$1, the same as the previous day’s exchange rate of N1,000/CA$1.

The naira closed flat against the euro, trading at ₦1,640/€1, the same as the previous day’s ₦1,640/€1.

By Babajide Okeowo