Naira records N4 difference between official, black-market rates

The Nigerian currency, the naira, depreciated against the American dollar at the official and black markets on Thursday, February 27, 2025 trading at N1, 496/$1 and N1,500/$1 respectively.

This represents a N4 difference between both rates.

The naira traded at N1,496/$1 at the official rate, representing a N1 loss when compared to the N1,495/$1 the previous day.

At the black market, the naira traded at N1,500/$1 losing N10 when compared to the N1490/$1 the previous day.

READ ALSO: Naira appreciates further at black market, trades at N1490/$1, no official figures yet

Meanwhile, the naira closed flat against the British Pound to trade at N1,900/£1 as against the previous day’s rate of N1,900\£1.

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

The naira lost N10 against the Euro to trade at ₦1,550/€1 as against the previous day’s rate of ₦1,540/€1.

By: Babajide Okeowo

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