The Nigerian currency, the naira, continues to depreciate against the American dollar at the official window on Monday, April 7, 2025.
According to the Central Bank of Nigeria (CBN) foreign exchange data, it showed that the naira depreciated to N1,612.23/$1 from N1, 567.02/$1 it traded on Friday, April 4, 2025.
This indicates that the naira depreciated by N45.21 against the dollar on a day-to-day basis.
On the black market, the naira closed flat at N1, 565/$1 same as the previous trading day.
Similarly, the naira closed flat against the British Pound to trade at N2,015/£1 same as the previous day’s rate.
The Canadian Dollar still held steady at N1,150/CA$1 same as the previous rate of N1,150/CA$1.
The naira closed flat against the Euro to trade at ₦1, 670/€1 same as the previous day’s rate of ₦1,670/€1.
By: Babajide Okeowo
© Ripples Nigeria
