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Naira Ends One Week Trading With 0.67 percent Loss Against the US Dollar.



Naira recorded a mixed trading Credit: @cbn


 


. 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).


On a day-to-day basis, the naira weakened by 0.4 percent (N3) to close at N750 on Friday, 20 January 2023 as against N747 closed on Thursday at the same market.



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