Nigeria’s currency weakened at the official foreign exchange market, reflecting sustained pressure from heightened dollar demand, according to figures released by the Central Bank of Nigeria.
Data from the apex bank showed the naira closing at N1,341.35 to the dollar at the official window.
This represents a N3.25 drop from the N1,338.10 recorded a day earlier, underscoring persistent volatility in the regulated segment of the market.
However, the narrative differed in the parallel market.
There, the local currency appreciated by N25, trading at N1,340 per dollar compared to N1,365 previously.
The gain suggests improved liquidity or reduced speculative demand outside the form
al banking channel.
