The naira slumped again against the dollar at the official window, losing N11.77

Nigeria’s currency, the naira, slumped again against the US dollar at the official window on Monday.

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,373.16/$1, compared with N1,361.39/$1 on Friday.

This represents a loss of N11.77 for the local currency against the American dollar.

On the black market, Nigeria’s currency, the naira, rose N5 against the American dollar, trading at N1,385/$1, compared with N1,400/$1 the previous day.

Also read: NGX: Market capitalization increases by N3.2tr as exchange booms

The local currency closed flat against the British Pound, trading at N1,880/£1, the same as the previous day’s N1,880/£1.

The Naira closed flat against the Canadian dollar and traded at N1,100/CA$1 the same as the previous day’s exchange rate of N1,100/CA$1.

The naira lost N5 against the euro, trading at ₦1,620/€1, down from the previous day’s ₦1,615/€1.

By: Babajide Okeowo