The Naira lost ₦1.48 in the official FX market

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 N1,358.74/$1, compared with N1,357.26/$1 on Wednesday.

This represents a loss of N1.48 in the local currency against the dollar.

On the black market, the naira closed flat against the dollar, trading at N1,398/$1, the same as N1,398/$1 the previous day.

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The local currency lost N10 against the British Pound, trading at N1,885/£1, compared with N1,875/£1 the previous day.

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

It lost N10 against the euro, trading at ₦1,600/€1, compared with the previous day’s ₦1,610/€1.

Babajide Okeowo