Naira Watch
Naira slumps for third consecutive day against dollar at official window
For the third consecutive day, the Nigerian currency, the naira, slumped against the dollar at the official window on Wednesday, January 8, 2025.
FMDQ data showed that the naira slumped to N1541.70/$1 on Wednesday, January 8, 2025, from N1,537.03 recorded on Tuesday.
This represents a loss of N4.67 against the dollar.
In the black market, the naira gained N5 against the dollar to trade at N1,660/$1 as against the previous rate of N1,665/$1.
READ ALSO: Naira slumps marginally, sheds less than N1 at official window
Similarly, the naira gained N10 against the British Pound to trade at N2,140/£1 as against the previous day’s rate of N2,150\£1.
The naira continues to hold steady against the Canadian Dollar at N1,280/CA$1.
The naira also gained N5 against the Euro to trade at ₦1,715/€1 as against the previous day’s rate of ₦1,720/€1.
By: Babajide Okeowo
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