The naira weakened further, down ₦3.47 on the official FX market

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

Officially, Central Bank of Nigeria (CBN) foreign exchange data shows that the naira closed at N1,362.21/$1, compared with N1,358.74/$1 on Wednesday.

This represents a loss of N3.47 for the local currency against the dollar.

On the black market, the naira lost N2 against the dollar, trading at N1,400/$1, compared with N1,398/$1 the previous day.

READ ALSO: Naira loses ₦1.48 in official FX market

The local currency strengthened by N5 against the British Pound, trading at N1,880/£1, compared with N1,885/£1 the previous day.

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

The Naira lost N5 against the Euro, trading at ₦1,605/€1, compared to previous day’s ₦1,600/€1.

Babajide Okeowo