The naira lost N16.47 against the dollar at the official window

Nigeria’s currency, the naira, slumped further 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 N1,380.70/$1, compared with N1,364.23/$1 on Monday.

This represents a loss of N16.47 for the local currency against the dollar.

On the black market, the naira lost N2 against the dollar, trading at N1,400/$1, up from the previous day’s N1,398/$1.

The local currency lost N5 against the British Pound, trading at N1,880/£1, compared with N1,875/£1 the previous day.

The Naira closed flat against the Canadian dollar and Euro trading at N1,100/CA$1 and ₦1,620/€1 respectively.

Babajide Okeowo