N1,641/$: Naira to Dollar Exchange Rate Records Slight Depreciation [Video]

• The Nigerian currency ended last week at a low against the US dollar but unchanged against the pound and the euro
• Naira’s poor performance was recorded both in the official and also unofficial foreign exchange markets
• The latest exchange rate once again showed the Central Bank of Nigeria’s struggle to stabilised naira

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The value of the Nigerian currency depreciated against the US dollar in the official foreign exchange market.

New data showed that the naira closed against the dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEX) at N1,641.27/$1 on Friday, October 11, 2024.

The latest exchange rate is N18.70 or 1.15 % depreciation compared with Thursday, October 9, closing rate of N1,622.57/$1.

Naira rate against the pound, euro

It was, however, a different …