Naira slumps marginally, sheds less than N1 at official window

The Nigerian currency, the naira, slumped marginally in the second trading day of the week on Tuesday, January 7, 2025 against the dollar at the official window.

FMDQ data showed that the naira slumped to N1537.03/$1 on Tuesday, January 7, 2025, from N1,536.58 recorded on Friday, last week.

This represents a loss of N0.45 against the dollar.

In the black market, the naira still held steady against the dollar at N1,665/$1 same as the previous rate of N1,665/$1.

READ ALSO: Naira slumps in first trading day of new week, sheds N2.53 at official window

However, the naira lost N20 against the British Pound to trade at N2,150/£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 also lost N20 against the Euro to trade at ₦1,720/€1 as against the previous day’s rate of ₦1,700/€1.

By: Babajide Okeowo

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