Nigeria's Naira Dips Against Dollar and Pound, Holds Steady Against Euro

The Nigerian naira has experienced a slight decline in value against the US dollar at the official NAFEM market, closing at N1,346.98 per dollar on August 25.

This represents a drop of 49 kobo or 0.04% from the previous session's rate of N1,346.49 per dollar.

The naira has also weakened against the British pound, settling at N1,837.54 per pound compared to N1,836.75 per pound recorded on Friday, a decline of 79 kobo.

In contrast, 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.