NAIRAMETRICS
The naira experienced sustained pressure across foreign exchange markets this week, closing at N1,544.50/$1 on the official market and trading as high as N1,647/$1 in the parallel market.
On Friday, January 10, 2025, the naira closed at N1,544.50/$1 on the Central Bank of Nigeria (CBN) currency tracker, a slight decline from Thursday’s closing rate of N1,542.00/$1.
In the parallel market, the situation was significantly worse, with the naira trading between N1,645.00/$1 and N1,647.00/$1, according to data obtained by Nairametrics.
This disparity continues to demonstrate the challenges of dollar accessibility for businesses and individuals.
The CBN data further reveals that the naira began the week on a stronger note, opening at N1,530.00/$1 on Monday, January 6, 2025.
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