- The official exchange rate between the naira and the US dollar ended 2024 at N1,535/$, according to CBN
- This indicated a 40.9% depreciation during the year compared to the official rate at the end of 2023, which was N907.11/$
- The significant devaluation takes place at the same time that the CBN implements certain foreign exchange regulations
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Data from the Central Bank of Nigeria has shown that the official exchange rate between the naira and the US dollar finished 2024 at N1,535/$.
