The Nigerian currency, the naira, depreciated against the American dollar at the official and black markets on Thursday, February 27, 2025 trading at N1, 496/$1 and N1,500/$1 respectively.
This represents a N4 difference between both rates.
The naira traded at N1,496/$1 at the official rate, representing a N1 loss when compared to the N1,495/$1 the previous day.
At the black market, the naira traded at N1,500/$1 losing N10 when compared to the N1490/$1 the previous day.
Meanwhile, the naira closed flat against the British Pound to trade at N1,900/£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 lost N10 against the Euro to trade at ₦1,550/€1 as against the previous day’s rate of ₦1,540/€1.
By: Babajide Okeowo
Source: Ripples