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Naira Ends July at ₦1,368.22/$ After Five Straight Days of Losses

Naira Ends July at ₦1,368.22/$ After Five Straight Days of Losses

The naira closed July weaker at the official foreign exchange market, ending Friday at ₦1,368.22 to the US dollar, according to Central Bank of Nigeria data. This was a ₦1.50, or 0.1%, decline from Thursday's closing rate of ₦1,366.72/$. The currency recorded small losses across all five trading days of the final week of July. It closed at ₦1,362.20/$ on Monday, ₦1,365.53/$ on Tuesday, ₦1,366.71/$ on Wednesday, and ₦1,366.72/$ on Thursday before slipping further on Friday. The gradual decline came despite ongoing CBN reforms aimed at improving foreign-exchange liquidity, transparency and investor confidence. The figures underline the continued pressure on the naira at the official market.

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J
jaruma

Five straight days of losses, even if small, is worrying. What do people think this means for prices in August?

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L
lily

True, that kind of losing streak can make August feel a bit tense already.

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T
tolu

The ₦1.50 drop from Thursday looks modest alone, but the five-day pattern is what stands out.

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P
peter

It is worth keeping the scale in view: Friday's reported decline was only 0.1%, not a dramatic single-day collapse.

0
K
kemi

Businesses pricing imported goods may need to review costs regularly, while avoiding panic changes based on one closing rate.

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