The Nigerian currency, the naira, slumped against the American dollar at the official window on Monday.
At the official window, the Central Bank of Nigeria (CBN) foreign exchange data showed that the naira closed at N1,420.28/$1, compared to N1,417.94/$1 it traded on Friday.
This represents a depreciation of N2.34 for the local currency against the American dollar.
At the black market, the Nigerian currency gained N6 against the American dollar, trading at N1,487/$1, compared to the previous rate of N1,493/$1.
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The local currency lost N5 against the British Pound to trade at N2,020/£1 as against the previous day’s rate of N2,015/£1.
The naira closed flat against the Canadian dollar to trade at N1,130/CA$1, the same as the previous day’s rate of N1,130/CA$1.
The naira lost N5 against the Euro to trade at ₦1,725/€1, as against the previous day’s rate of ₦1,720/€1.
By Babajide Okeowo
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