The Nigerian currency, the naira, slumped against the American dollar at both the official and black market on Wednesday, March 5, 2025.
The naira trades at N1, 500.80/$1 at the official window against the N1,491.67/$1 the previous day.
This represents a loss of N9.13 for the local currency.
At the black market, the naira traded at N1,525/$1 losing N15 when compared to the N1510/$1 the previous day.
Meanwhile, the naira closed flat against the British Pound to trade at N1,900/£1 same as the previous day’s rate of N1,900£1.
The Canadian Dollar still held steady at N1,200/CA$1.
The naira slumped massively against the Euro to trade at ₦1,605/€1 as against the previous day’s rate of ₦1,570/€1 representing a loss of N35 for the local currency.
Source: Ripples