Naira further depreciates against dollar
At the official foreign exchange market on Thursday, the naira's downward trend versus the dollar persisted.
Data on exchange rates from the Central Bank of Nigeria shows that the value of the naira decreased little from N1,549.21 to N1,549.49.
This indicates a little daily decline of N0.28 in the value of the naira relative to the US dollar.
According to the DAILY POST, beginning Monday, January 16, 2025, the value of the Nigerian naira has declined against the US dollar three times in a row.
In a similar vein, the naira lost strength on the black market as well, falling from N1,595 to N1,600 per dollar on Wednesday. Remember that, similar to Tuesday, the naira lost value at the official market on Wednesday.
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