The naira lost N5.46 against the dollar at the official window

Nigeria’s currency, the naira, slumped against the United States dollar at the official window on Thursday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,353.90/$1, compared with N1,348.44/$1 on Wednesday.

This represents a loss of N5.46 for the local currency against the dollar.

On the black market, the naira rose N3 against the dollar, trading at N1,395/$1, down from the previous day’s N1,398/$1.

The local currency lost N5 against the British Pound, trading at N1,885/£1, compared with N1,880/£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