Naira Watch
Naira slumps ahead of new year, sheds, N4 at official window
The Nigerian currency, the naira, slumped slightly against the dollar on Monday, December 30, 2024, a few hours before the new year.
According to data from FMDQ, the naira depreciated to N1,538.55/$1 from the N1,534 /$1 it traded on Friday, December 27, 2024.
This represents a gain of N4.55 for the local currency.
Similarly, in the black market, the naira shed N10 to trade at N1,660/$1 as against the previous rate of N1,650/$1.
READ ALSO: Naira recovers at official window, holds steady at black market
Contrastingly, the naira gained N30 against the British Pound to trade at N2,130/£1 as against the previous day’s rate of N2,160\£1.
The naira continues to hold steady against the Canadian Dollar at N1,280/CA$1.
The naira gained N10 against the Euro to trade at ₦1,720/€1 as against the previous day’s rate of ₦1,730/€1.
By: Babajide Okeowo
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