Naira slumps further, now N1360/$1 at black market 

The Nigerian naira further declined against the dollar on Monday, January 22nd, 2024, in both the official and black markets data from the Nigerian Autonomous Foreign Exchange Market window has shown.

The domestic currency depreciated to N925.34/$1 at the close of business, representing a loss of N22.89 compared to the N902.45 it closed at on the previous trading day.

The intraday high was N1,311 while the intraday low was N745 representing a wide difference of N566.

Similarly, the naira depreciated at the parallel forex market where forex is sold unofficially to N1360/$1, representing a loss of N20 when compared to the N1340/$1 it traded on Friday, January 19, 2024, while peer-to-peer traders quoted around N1371.02/$1.

READ ALSO:Naira appreciates to N902.08/$1 at official market, slumps at parallel window

The naira shed a massive N65 against the British Pound to slump to N1,725/£1 when compared to the previous rate of N1,660/£1 the previous trading day.

The Canadian dollar also reached the N1000 threshold as it appreciated by N10 against the N990/CA$1 traded last week.

The naira closed flat against the Euro to trade at ₦1,450/€1 same as the previous closing price.

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