Naira defies CBN’s forex reforms, tumbled 41% in 2024

The official exchange rate between the naira and the United States dollar ended in 2024 at N1,535/$, an analysis of data from the Central Bank of Nigeria has shown. This was a 40.9 per cent depreciation over the year when compared to the official rate at the close of 2023, which stood at N907.11/$. The