
The Nigerian currency has continued its upward climb against the dollar in official and parallel markets, closing at N1,527 and N1,565 per dollar, respectively.
The Nigerian currency has continued its upward climb against the dollar in official and parallel markets, closing at N1,527 and N1,565 per dollar, respectively.
The Nigerian naira has depreciated over 400% since 2023, now trading close to the N1600/$ mark. It is now ranked among the top 10 weakest currencies in Africa.
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The Central Bank of Nigeria (CBN) data shows that the currency in circulation has risen again, with cash outside the banking system now at 92.4%.
Economy
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