Naira slumps against dollar at official window, gains at black market

The Nigerian currency, the naira, slumped marginally against the dollar at the official window on Tuesday, January 14, 2025.

FMDQ data showed that the naira slumped to N1,549.65/$1 on Tuesday, January 14, 2025, from N1,548.89/$1 recorded on Monday, January 13, 2025.

This represents a loss of N0.76 against the dollar.

In the black market, the naira gained N7 against the dollar to trade at N1,660/$1 as against the previous rate of N1,667/$1.

READ ALSO: Naira abuse: EFCC invites Okoya’s sons

Similarly, the naira gained N50 against the British Pound to trade at N2,080/£1 as against the previous day’s rate of N2,130\£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 ₦1,690/€1 as against the previous day’s rate of ₦1,700/€1.

By: Babajide Okeowo

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