Browsing: Black market rate

The naira suffered losses against the US dollar despite the fact that the Central Bank of Nigeria (CBN) intervened twice this week.

The Nigerian local currency, the naira, tumbled against the US dollar in the official window on Thursday due to lingering FX liquidity crisis that has failed to ease. Data from FMDQ platform where daily spot rate are quoted showed that the Naira depreciated against the dollar by 0.16%, closing at ₦1,485.36 per US dollar.