Naira sheds N12 at official window, slumps massively at black market

The Nigerian currency, the naira, shed N12 off its value against the American dollar at the official window while also slumping massively at the black market on Thursday, March 6, 2025.

The naira traded at N1, 512.30/$1 at the official window against the N1,500.80/$1 the previous day.

This represents a loss of N11.5 for the local currency.

At the black market, the naira traded at N1,580/$1 losing N55 when compared to the N1525/$1 the previous day.

READ ALSO: Naira slumps at both official, black markets

Similarly, the naira lost N25 against the British Pound to trade at N1,925/£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 slumped against the Euro to trade at ₦1,620/€1 as against the previous day’s rate of ₦1,605/€1 representing a loss of N15 for the local currency.

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