The Naira depreciated against the American dollar at the official window on Thursday.
The foreign exchange data from the Central Bank of Nigeria (CBN) showed that the naira rose to N1,552.53/$1 from N1, 531.25/$1 it traded on Wednesday.
This indicates that the naira depreciated by N21.28 against the dollar on a day-to-day basis.
On the black market, the naira traded N1, 560/$1 as against N1, 555/$1 for the previous day.
This represents a loss of N5 for the local currency.
The naira lost N15 against the British Pound to trade at N2,020/ยฃ1 as against the previous dayโs rate of N2,005ยฃ1.
The Canadian Dollar closed flat at N1,150/CA$1.
The naira lost N10 against the Euro to trade at โฆ1, 670/โฌ1 as against the previous dayโs โฆ1,660/โฌ1.
By: Babajide Okeowo
ยฉ Ripples Nigeria