Naira slumps to ₦1,612/$1 at official market as pressure mounts on FX reserves

The Nigerian naira suffered another setback on Monday, depreciating significantly against the U.S. dollar at the official foreign exchange window. Data released by the Central Bank of Nigeria (CBN) revealed that the naira fell to ₦1,612.23 per dollar, compared to ₦1,567.02 recorded on Friday, April 4—representing a sharp day-on-day decline of ₦45.21. This marks one [...]The post Naira slumps to ₦1,612/$1 at official market as pressure mounts on FX reserves appeared first on National Daily Newspaper.

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