CBN Adjusts Exchange Rates As Naira Declines Against USD and GBP

CBN Adjusts Exchange Rates As Naira Declines Against USD and GBP

The Nigerian Naira has once again depreciated in both the official and unofficial foreign exchange markets. The currency saw a drop of N1.80 against the…READ MORE…

US dollar in the official market, closing at N1,543.03/$1, while its value remained stable in the parallel market. It also weakened by N30.78 against the British pound, trading at N1,889.29/£1. However, the Naira slightly improved against the euro, gaining N5.48 to settle at N1,583.81/€1. The depreciation is attributed to the nearing expiration of a temporary window granted to Bureaux de Change (BDC) operators by the Central Bank of Nigeria (CBN), set to end on January 19, 2025

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