The naira recorded a marginal decline against the US dollar at the official foreign exchange market on Thursday.
According to data from the Central Bank of Nigeria, the naira traded at N1,584.95 per dollar, down from N1,584.49 recorded on Wednesday a daily drop of N0.46.
Meanwhile, the parallel market rate remained unchanged. Currency dealers sold the dollar for N1,625, the same rate as the previous day.
A Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, confirmed the figures. “We buy at N1,615 and sell at N1,625,” he said.
This continued fluctuation in the value of the naira comes despite the Central Bank’s efforts to stabilize the currency, led by Governor Olayemi Cardoso.
