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 N1,390.26/$1, compared to N1,386.55/$1 it traded on Friday.
This represents a depreciation of N3.81 for the local currency against the American dollar.
At the black market, the Nigerian currency gained N10 against the American dollar, trading at N1,455/$1, as against the previous rate of N1,465/$1.
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The local currency closed flat against the British Pound to trade at N2,000/£1 the same as the previous day’s rate of N2,000/£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 gained N10 against the Euro to trade at ₦1,715/€1, as against the previous day’s rate of ₦1,725/€1.
By: Babajide Okeowo
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