The Nigerian naira continued its downward trajectory at the official foreign exchange market on Monday, January 13, closing at N1,548.89 per dollar, according to data from FMDQ. This marks a N5.86 decline compared to the previous close of N1,543.03 on Friday.
On the parallel market, the naira also depreciated slightly, closing at N1,667 per dollar, down from N1,665.
Despite the dip, the naira traded within a relatively stable range throughout the day, hovering between N1,545 and N1,660 per dollar across the official and black market rates.
Market watchers continue to express concerns over the currency’s performance, as stakeholders look to the Central Bank of Nigeria for potential interventions to stabilize the naira.
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