Naira Depreciates Against Dollar, Pound at Official Market

The Nigerian naira depreciated against the US dollar at the official market on Monday, August 25. The exchange rate closed at N1,346.98 per dollar, a 0.04% decrease from the previous session.

In addition to its decline against the dollar, the naira also lost ground against the British pound, settling at N1,837.54 per pound compared to Friday's rate.

However, the naira posted a modest recovery against the euro, gaining N1.59 to trade at N1,571.54 per euro, up from N1,573.11 in the preceding session.