The naira weakened marginally in July, depreciating by approximately ₦3.85 at the official market, even as Nigeria’s external reserves rose by $2.15 billion during the same period. According to the Central Bank of Nigeria (CBN) FX update, the naira closed at ₦1,533.33 per dollar at the Nigerian Foreign Exchange Market (NFEM) on Thursday, softening from … Continue reading Naira Weakens In July As External Reserves Climb By $2.15bn