Suggestions




···

Naira Opens Week With Further Depreciation

January 14, 2025
by
Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

The naira began the new week on a negative note as it recorded further depreciation at the foreign exchange market on Monday, 13th January.

The Nigeria Foreign Exchange Market (NFEM) data published on  the Central Bank of Nigeria (CBN) website showed that the naira traded ₦1,550 per dollar at the official market. When compared with ₦1,544.50 per dollar exchange rate recorded on Friday, 10th January, it reflects ₦6 depreciation.

Join our WhatsApp Channel

READ ALSO: Naira Records First Major Depreciation At Official Market In 2025

Similarly, the naira tumbled at the parallel market also known as black market on Monday. It closed trading at ₦1,670 per dollar against ₦1,660 the previous week.

The naira and dollar exchange rate has been on a steady rise, though marginally, since the onset of the new year.

The local currency has lost about ₦15 in value between 31 December 2024 and 13 January 2025.

Victor Ezeja

Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.

Related Posts

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025
Previous Story

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 14th January 2025

Brazil Bans Use Of Smartphone In Schools
Next Story

Brazil Bans Use Of Smartphone In Schools

Featured Stories

Related Posts

Latest from Business

Naira Appreciates, Ends Week Positive Across Official, Black Markets

Dollar Appreciates In Black Market, Official Window

The foreign exchange (FX) rate for the United States dollar (USD) increased to N1,387.77 kobo per $1 on Tuesday, March 3, in the black market, surpassing the N1,382.52 kobo per $1 recorded on Monday, March 2. Also, the pound FX rate was

Petrol Prices Set to Rise After Dangote Price Increase

Fuel prices in Nigeria are expected to rise sharply after a hike in refinery rates, as Africa’s richest man Aliko Dangote outlined broader plans to expand into power, steel and infrastructure. The Dangote Petroleum Refinery has increased its gantry price for Premium
Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 1st July 2025
Previous Story

Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today, 14th January 2025

Brazil Bans Use Of Smartphone In Schools
Next Story

Brazil Bans Use Of Smartphone In Schools

Don't Miss

2023: I am Still Candidate Of APC In Yobe North Senatorial Seat – Sheriff Machina

Yobe North Senatorial District ticket of the All Progressives Congress
Lagos Bus Drivers To Stop Work On Monday Over Extortion By Thugs, Others

Yellow Bus Driver Sets Self Ablaze Over LASTMA Seizure Of Vehicle

Unidentified commercial bus driver, reportedly set himself ablaze in the