Naira Weakens by N0.23 Against Dollar Officially, Black Market Sees Significant Gain

The Nigerian Naira depreciated by N0.23 against the US Dollar at the official window, closing at N411.1 compared to the previous day's N411.1 rate, according to CBN data. Conversely, on the black market, the Naira gained N20 against the Dollar, trading at N516.

The Naira also saw gains against the British Pound and the Canadian Dollar but remained flat against the Euro. These fluctuations highlight the volatility in Nigeria's foreign exchange market.