The Nigerian currency, the naira’s yoyo movement against the American dollar continued at the official market on Thursday.
Data from the Central Bank of Nigeria (CBN) Foreign exchange showed that the naira slumped to N1, 599.93/$1 as against N1, 599.79/$1 the currency traded on Wednesday.
This represents a loss of N0.14 for the local currency.
On the black market, the naira closed flat at N1,620/$1.
The naira lost N20 against the British Pound to trade at N2,140/£1 as against the previous day’s rate of N2,120/£1.
The Canadian Dollar still held steady at N1,150/CA$1.
The naira also closed flat against the Euro to trade at ₦1,810/€1.
By: Babajide Okeowo
© Ripples Nigeria