The naira lost N0.17 against the dollar at the official window

Nigeria’s currency, the naira, dipped slightly against the United States dollar at the official window on Tuesday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,373.87/$1, compared with N1,373.70/$1 on Monday.

This represents a loss of N0.17 for the local currency against the dollar.

On the black market, the naira rose N5 against the dollar, trading at N1,395/$1, compared to N1,400/$1 the previous day.

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The local currency strengthened by N5 against the British Pound, trading at N1,885/£1, compared with N1,890/£1 the previous day.

The naira closed flat against the Canadian dollar and traded at N1,100/CA$1.

It gained N10 against the euro, trading at ₦1,620/€1, compared with the previous day’s ₦1,630/€1.

Babajide Okeowo