Naira Records Fresh Loss Against Dollar

On Monday, the Nigerian currency, the naira, experienced another decline against the American dollar at the official exchange rate.

According to the Central Bank of Nigeria (CBN) foreign exchange data, the naira closed at N1,378.02 per dollar, marking a decrease from Friday’s rate of N1,363.39 per dollar.

This represents a depreciation of N14.63 for the naira.

In the unofficial black market, the naira also weakened, trading at N1,375 per dollar, a loss of N5 compared to the previous rate of N1,370 per dollar.

The local currency gained N5 against the British Pound to trade at N1,870/£1 as against the previous day’s rate of N1,875/£1.

The naira closed flat against the Canadian dollar to trade at N1,000/CA$1, the same as the previous day’s rate of N1,000/CA$1.

The naira gained N20 against the euro, trading at ₦1,620/€1, as against the previous day’s ₦1,640/€1.