The Central Bank of Nigeria (CBN) has disclosed that the naira depreciated against the British pound but improved against the dollar and the euro in the official foreign exchange market.

Sharing the updated exchange rate on their official website, the apex bank stated that the naira exchange rate against the pound fell marginally to N2,035/£1 after trading on Friday, August 16, 2024.

The new exchange rate shows a N1.82 loss for the Nigerian currency compared to the previous day's rate of N2,033/£1.

The naira also fell against the US currency in the official Nigerian Autonomous Foreign Exchange Market (NAFEM) forex window.

Data from the FMDQ Securities Exchange indicates that, the naira marginally depreciated to N1579.89/$1 on Friday from the previous rate of N1,575.82/$1.

Against the euro, the naira value appreciated, trading at N1,735.8/€1, in contrast to the previous day's rate of N1,737.69/€1.

Here is a snapshot of current exchange rates:

Pounds sterling: N2,035.19

Euro: N1,735.85

Swiss franc: N1,816.76

Yen: N10.66

CFA: N2.65

Riyal: N420.69

Danish krone: N232.65

Yuan/Renminbi: N220.36

South African rand: N88.17