Naira Sees Slight Value Drop Against Dollar in Official Market
Nigeria's national currency, the Naira, concluded the past week with a minor decline within the official foreign exchange segment, settling at N1,380.93 for one US dollar on Friday. Figures released by the Central Bank of Nigeria (CBN) on its official portal confirmed that the local unit shed 82 kobo from its value. This slight dip translates to a 0.05 percent reduction when measured against Thursday's exchange rate of N1,380.10.
Earlier in the week, the Naira began on an optimistic note, exchanging at N1,369.10 per dollar on Monday, June 22. However, its value began to slide, reaching N1,370.63 by Tuesday, before weakening further to N1,380.07 by Wednesday.
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Na so the Naira still dey struggle small for the official market, wey close last week with another tiny loss against the dollar. E be like say for now, dis currency matter no too get strong head.
Source: Punch NG
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