Naira Trades at N1,548/$ at Official Window

• The naira traded at N1,548.59 per dollar at the official window, experiencing a marginal drop of N3.99 from the previous day’s rate
• In the parallel market, the naira remained steady at N1,660/$1, with mixed performances against other major currencies

The naira traded at N1,548.59 per dollar at the official window on Thursday, reflecting a marginal drop of N3.99 compared to the N1,552.58/$1 rate recorded on Wednesday, according to data from FMDQ.

In the parallel market (black market), the naira held steady, maintaining its previous exchange rate of N1,660/$1.

Against other major currencies, the naira experienced mixed performances:

• The naira lost N30 against the British pound, trading at N2,080/£1, compared to the previous rate of N2,050/£1.
• The local currency remained stable against the Canadian dollar at N1,280/CA$1.
• However, the naira weakened by N10 against the euro, trading at ₦1,700/€1 compared to Wednesday’s rate of ₦1,690/€1.