Business
Dollar Pushes Naira Lower In Official, Black Markets
By Benjamin Abioye
The naira experienced a decline against the dollar in both official and parallel foreign exchange markets, just a day before the start of 2025.
According to FMDQ data, the official exchange rate closed at ₦1,538.55 per dollar on Monday, dropping from ₦1,534 on Friday, marking a loss of ₦4.55.
In the black market, the naira also weakened slightly, trading at ₦1,662 per dollar on Monday compared to ₦1,660 the day before.
A report from Afrinvest has forecasted that the naira might fall further to ₦1,804 per dollar in 2025.
On another note, the Centre for the Promotion of Private Enterprise revealed that Nigeria’s inflation rate stood at 34.60% in November. However, the organization expressed optimism that inflation might ease in the coming year.
Send Us A Press Statement Advertise With Us Contact Us
And For More Nigerian News Visit GWG.NG
