Naira Slumps Against Dollar Hours To New Year

The Naira depreciated against the dollar in official and parallel foreign exchange markets to barely 24 hours to 2025.

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EKO HOT BLOG reports that FMDQ data showed that the Naira closed at N1,538.55 per dollar on Monday from N1,534 traded on Friday.

This indicated that the Naira was slightly N4.55 against the dollar compared to the N1,534 exchange rate at the close of last week.

Similarly, in the black market, the Naira dipped marginally to N1,662 per dollar on Monday from N1,660 traded the previous day.

As the year winds down, a recent report by Afrinvest projected that the Naira may depreciate to N1804 per dollar in 2025.

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However, the Centre for the Promotion of Private Enterprise said Nigeria’s inflation currently stands at 34.60 percent in November, which would moderate in the new year.

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