Naira strengthens against dollar at black market, still no official rates from CBN

The Naira continued to strengthen against the dollar at the parallel foreign exchange market on Friday, February 14, 2025.

However, the Central Bank of Nigeria (CBN) has yet to update the official rates again, more than 16 hours after the market closed.

At the black market, the Naira gained N5 against the dollar to trade at N1, 565/$1 as against the N1,570/$1 it traded the previous day.

At the official market, the Central Bank of Nigeria only has the previous day’s rate of N1,507.88/$1 but yet to update FX data for Friday, February 14, 2025, on its website as of the time of filing this report at 8.31 am on Saturday, February 15, 2025.

READ ALSO: Naira separated by only N70 at official, black windows as convergence looms

The naira gained N5 against the British Pound to trade at N1,980/£1 as against the previous day’s rate of N1,985\£1.

The Canadian Dollar still maintained the current rate of N1,200/CA$1.

The naira gained N5 against the Euro to trade at ₦1,610/€1 as against the previous day’s rate of ₦1,615/€1.

By: Babajide Okeowo

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