Nigerian Naira Slumps, Loses N5.60 Against Dollar at Official Window

The Nigerian Naira continued its decline against the American Dollar at the official window, as per data from the Central Bank of Nigeria (CBN). The Naira closed at N448.03 to $1, shedding N5.60 compared to the previous trading day.

It also lost N5 against the British Pound, trading at N1925.1. The Naira remained flat against the Canadian Dollar but depreciated against the Euro.

This ongoing depreciation reflects challenges in Nigeria's economy and foreign exchange market.