- Nigerian currency, the naira continues to put up a bad performance against the US dollar
- In the week that ended, the naira again lost 0.67 percent of the value to the American dollar
- However, there is a positive as Nigeria’s foreign reserves improved to $37bn giving CBN enough power to defend the naira
Naira loses 0.67 percent of its value from in one week at the unofficial market, also known as the black market.
After trading on Friday, 20 January 2023, the naira closed at N750 per dollar, lower than the N745/$ it closed with last Friday (January 13, 2023).
