Naira slips to N1,576/€1 against Euro despite strong external reserves

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Naira slips to N1,576/€1 against Euro despite strong external reserves

AI Summary

The Nigerian naira slightly depreciated against the euro, reaching N1576/€1 from N1569/€1, despite Nigeria's strong external reserves as indicated by recent Central Bank of Nigeria data.

The naira experienced a slight depreciation against the major European currency this week, with the CBN's latest data indicating it settled at N1576/€1, up from N1569/€1 last week. The post Naira slips to N1,576/€1 against Euro despite strong external reserves appeared first on Nairametrics.

World Markets Naira currency depreciation Nigeria forex exchange rate Central Bank of Nigeria

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