Naira slumps marginally at official window, closes flat at black market

The Nigerian currency, the naira slumped marginally against the American dollar at the official window on Tuesday, March 25, 2025.

According to the Central Bank of Nigeria (CBN) Foreign exchange data, it showed that the naira slumped to N1,532.39/$1 from N1, 531.19/$1 on Monday, March 24, 2025.

This indicates that the naira depreciated by N1.20 against the dollar on a day-to-day basis.

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

On the black market, the naira traded at N1,570/$1 same as the N1,570/$1 the previous day. This represents neither gain nor loss for the local currency.

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

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

The naira closed flat against the Euro to trade at ₦1,700/€1 same the previous day’s rate of ₦1,700/€1.

By: Babajide Okeowo

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