Data released by the Central Bank of Nigeria (CBN) has shown that the Naira has experienced a further depreciation against the US dollar, closing at N1,538.66 per dollar on the Nigeria Foreign Exchange Market (NFEM) on Thursday.
This marks a continuation of a downward trend, as the local currency also fell to N1,537.62 per dollar on Wednesday and ended at N1,532.39 per dollar on Tuesday in the official market.
The last time the naira appreciated in the official market this week was on 24 March 2025, when it traded at N1,531.19 per dollar, rising from N1,536.89 at the end of trading last Friday.
In the parallel market, the naira remained steady at N1,560 per dollar on Thursday, maintaining the same exchange rate as the day before.
