Naira drops to N1,380 at official FX market

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The Nigerian naira weakened against the US dollar on Thursday, trading at N1,380.1079 at the Central Bank of Nigeria official foreign exchange window.

Data from the CBN platform shows the naira traded at the Nigerian Foreign Exchange Market rate of N1,380.1079 per dollar and closed at N1,383.0000 per dollar.

This marks a slight depreciation of at least N0.33 from Wednesday's NFEM rate of N1,380.0775.

At the parallel market, the buying rate improved by N2 while the selling rate held steady compared to Wednesday's trading.

Black market rates stood at N1,392 for buying and N1,395 for selling.

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