The Nigerian currency, the naira, lost further ground against the American dollar at the official market on Wednesday.
The Central Bank of Nigeria (CBN) Foreign exchange data revealed that the naira slumped to N1, 599.79/$1 as against N1,598.95/$1 it traded on Tuesday.
This represents a loss of N0.87 for the local currency.
On the black market, the naira lost N5 to trade at N1,620/$1 as against the previous day’s rate of N1, 615/$1.
The naira lost N45 against the British Pound to trade at N2,120/£1 as against the previous day’s N2,075/£1.
The Canadian Dollar still held steady at N1,150/CA$1.
The naira lost N55 against the Euro to trade at ₦1,810/€1 as against the previous day’s rate of ₦1,755/€1.
By: Babajide Okeowo
Source: Ripples Nigeria
