Naira loses N629.14 in one year, ends 2024 on positive note

The Nigerian currency, the naira, appreciated against the dollar at both official and black markets on Tuesday, December 31, 2024 to end the year on a positive note.

However, the Nigerian currency lost N629.14 against the dollar at the official market on a year-on-year comparison when compared to the closing price in 2023.

On December 31, 2023, the naira closed at N907.11/$1 however in the corresponding period in 2024, the naira closed at N1538.25/$1 signifying a loss of N629.14.

FMDQ data showed that the naira strengthened slightly to N1538.25/$1 on Tuesday from N1,538.55, gaining N0.3 against the dollar.

Similarly, in the black market, the naira gained N5 to trade at N1,655/$1 as against the previous rate of N1,660/$1.

READ ALSO; Naira recovers at official window, holds steady at black market

Similarly, the naira gained N5 against the British Pound to trade at N2,125/£1 as against the previous day’s rate of N2,130\£1.

The naira continues to hold steady against the Canadian Dollar at N1,280/CA$1.

The naira gained N5 against the Euro to trade at ₦1,715/€1 as against the previous day’s rate of ₦1,720/€1.

By: Babajide Okeowo

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