The naira on Monday, 20th of January 2025, opened the week with a marginal loss against the dollar.
According to the data released by the Central Bank of Nigeria (CBN), the exchange rate in the Nigerian Foreign Exchange Market (NFEM) shows that tthe deprecated in the official market, exchanging at 1,547.9989 per Dollar.
The current figure represents a marginal decline in the local currency which exchanged fir N1,546.7212 per Dollar against at the end of trading on Friday, 17th January, 2025.
In the parallel market, known as the black market the naira exchanged between 1655 and 1670 to one dollar depending on the seller and the location.
The CBN has continued to introduce reforms seeking to stablize the local currency since the coming of the present administration under whose watch the Naira skyrocketed to the current figure from 760 to on dollar when they came on board on May 29, 2023
