The Nigerian currency, the naira, is only separated by N5 against the American dollar at the official and black markets on Friday, February 28, 2025.
The naira trades at N1, 500/$1 at the official window against the N1,496/$1 the previous day.
This represents a N4 depreciation for the local currency.
At the black market, the naira traded at N1,505/$1 losing N5 when compared to the N1500/$1 the previous day.
Meanwhile, the naira gained N20 against the British Pound to trade at N1,880/£1 as against the previous day’s rate of N1,900£1.
The Canadian Dollar still held steady at N1,200/CA$1.
The naira closed flat against the Euro to trade at ₦1,550/€1 same as the previous day’s rate of ₦1,550/€1.
By: Babajide Okeowo
Source: Ripples