The Nigerian currency, the naira, depreciated against the American dollar at the black market on Wednesday, April 9, 2025.
This is even as there is no official rates from the Central Bank of Nigeria (CBN) Foreign exchange data several hours after the market closed.
On the black market, the naira fell to N1,620/$1 as against the previous day’s rate of N1, 565/$1. This represents a loss of N55 for the local currency.
Similarly, the naira lost N35 against the British Pound to trade at N2,050/£1 as against the previous day’s rate of N2,015/£1.
The Canadian Dollar still held steady at N1,150/CA$1 same as the previous rate of N1,150/CA$1.
The naira lost N50 against the Euro to trade at ₦1,720/€1 as against the previous day’s rate of ₦1,670/€1.
By Babajide Okeowo