Naira falls against dollar at official window, black market

The naira continued to depreciate against the dollar at both the official and parallel foreign exchange channels on Monday, November 11, 2024.

According to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Nigerian currency fell to N1681.42/$1.

This represents a N2.55 loss against the dollar when compared to the N1678.87/$1 it traded last Friday, November 8, 2024.

At the parallel section of the FX market, the naira also lost N6 against the dollar to trade at N1, 735/$1 as against the previous day’s rate of N1, 729/$1.

READ ALSO: Naira depreciates by 2.4%, trades N1,678/$ at official window

The naira however gained N25 against the British Pound to trade at N2,255/£1 as against the previous rate of N2,280\£1.

The Canadian Dollar continues to hold steady, maintaining its N1,300/CA$1 rate.

The naira also lost N5 against the Euro to trade at ₦1,870/€1 as against the previous day’s rate of ₦1,865/€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