In Nigeria news, the Naira experienced a significant decline in value against the dollar in the official foreign exchange market between March 14 and 21, 2025. According to the Central Bank of Nigeria’s data, the Naira fell by N18.96 weekly, closing at N1,536.89 from last week’s rate of N1,517.93.
Conversely, Abuja news highlights that in the black market, the Naira appreciated by N10 over the same period, ending the week at N1,580 per dollar compared to the previous week’s N1,590 rate. These fluctuations underscore the persistent volatility in Nigeria’s currency markets, a concern for investors and policymakers alike.
Key Takeaways:
- The Naira dropped N18.96 against the dollar at the official market.
- It appreciated N10 against the dollar in the black market.
- Currency fluctuations continue to challenge Nigeria’s economy.
The constant fluctuation of the Naira, noted even in Lagos news, reflects Nigeria’s ongoing economic challenges. Will these trends prompt changes in foreign exchange strategies? We’d love to hear your thoughts: How do you think currency fluctuations impact local businesses in Nigeria? Source
