The Nigerian naira continued its downward trend against the US dollar on Thursday, with fresh declines recorded across both official and parallel foreign exchange markets.
According to data from the Central Bank of Nigeria (CBN), the naira depreciated to ₦1,609.64 per dollar at the official market, compared to ₦1,608.60 recorded on Wednesday — a loss of ₦1.04 in a single day.
This means that the naira dropped by N1.04 on a day-to-day basis at the official FX market.
Similarly, the naira depreciated to N1630 per dollar at the black market on Thursday compared to N1625 traded the previous day. This indicated that the N5 lost against the dollar in 24 hours.
Recall that on Wednesday that the naira recorded its highest depreciation and fell to N1625 per dollar from N1610 on Tuesday this week.
