Naira Sees Slight Decline in Official Foreign Exchange Market

The Nigerian Naira experienced a minor depreciation in the official foreign exchange market as the trading week concluded on Friday.

According to data released by the Central Bank of Nigeria, the local currency closed at ₦1,380.93 against the U.S. dollar. This reflects a marginal loss of 82 kobo, or approximately 0.05 percent, compared to the ₦1,380.10 rate recorded at the close of trading on Thursday.

The currency had demonstrated some volatility throughout the week. After opening the week on Monday, June 22, at ₦1,369.10, the Naira began a gradual slide, moving to ₦1,370.63 on Tuesday and reaching ₦1,380.07 by Wednesday.

Market observers continue to monitor these daily fluctuations as the currency maintains its path within the official market window.