The naira has dropped in value against the US dollar at the official (Nigerian Autonomous Foreign Exchange Market).

Data obtained from CBN showed that the Nigerian currency is now N1,552/$1 after trading on Monday, December 9, 2024.

Monday's exchange rate is slightly depreciating from the preceding day’s exchange rate of N1,535 a dollar.

The fall of the naira happened despite an improvement in the supply of forex to the spot market during the session.

Tomorrow The turnover on Monday is a 35.9% or $62.83 million drop to $112.32 million from the $175.15 million recorded last Friday, according to data from the FMDQ Securities Exchange.

In the black market, naira also weakened against the Dollar by N40 to quote at N1,620/$1, in contrast to the previous trading day’s value of N1,580/$1.

CBN's latest naira vs other foreign currencies

- Pounds Sterling (GBP): N1,961.93

- Euro (EUR): N1,623.84

- Swiss Franc (CHF): N1,746.93

- CFA Franc (CFA): N2.47

- Saudi Riyal (SAR): N408.38

- Danish Krona (DKK): N217.71

- Chinese Yuan (CNY): N211.34

- South African Rand (ZAR): N86.22