Naira continues to slump at official window, appreciates at black market

The Nigerian currency, the naira continued to slump against the American dollar at the official window on Wednesday, March 26, 2025.

According to the Central Bank of Nigeria (CBN) Foreign exchange data, it showed that the naira slumped to N1,537.62/$1 from the N1,532.39/$1 recorded on Tuesday, March 25, 2025.

This indicates that the naira depreciated by N5.23 against the dollar on a day-to-day basis.

READ ALSO: Naira makes slight recovery at official window, black market

On the black market, the naira traded at N1, 560/$1 as against the N1, 570/$1 the previous day. This represents a gain of N10 for the local currency.

The naira gained N5 against the British Pound to trade at N2,020/£1 as against the previous day’s rate of N2,025\£1.

The Canadian Dollar still held steady at N1, 200/CA$1.

The naira also gained N10 against the Euro to trade at ₦1,690/€1 as against the previous day’s rate of ₦1,700/€1.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now