Naira slumps to 1,393/$, weakest since January 29

The naira weakened further on Friday, closing at N1,393 per dollar, its lowest level since January 29 this year, as pressure in Nigeria’s foreign exchange market persisted. Data from the Central Bank of Nigeria (CBN) showed the local currency depreciated from N1,387/$ recorded on Thursday, reflecting renewed demand for the U.S. dollar and limited foreign […]