The naira edged lower on Thursday in the official foreign-exchange market, retreating from a ten-day rally as renewed dollar demand weighed on the currency.
Data from the Central Bank of Nigeria (CBN) showed the naira weakened by N7.78 to close at N1,366.06 per dollar on the Nigerian Foreign Exchange Market, a 0.6 percent decline from N1,358.28 recorded in the previous trading session.
The currency also softened in the parallel market. The naira traded at N1,452 per dollar on Thursday, down from N1,450 per dollar the previous day, according to market operators.