Naira Recovers Slightly Against Dollar At Parallel, Official Markets
Naira recovered slightly against the dollar on Friday May 17, 2024 to trade at N1, 497/$1 data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown....For More CONTINUE THE FULL READING▶▶
At the end of trading on Friday, the naira gained N36 against the dollar when compared to the previous exchange rate of N1,533/$1 on Thursday, May 16, 2024.
The intra-day high and low recorded during the day were N1,555/$1 and N1,415/$1 respectively, representing a lean spread of N140 \$1.
Similarly, the naira recovered against the dollar at the parallel section of the market, to trade at N1,520/$1 representing a gain of N40 when compared to the N1,560/$1 it traded the previous trading day.
However, the naira depreciated against the British Pound to trade at N1,940\£1 as against the previous trading price of N1,900/£1 representing a loss of N40 for the local currency.
The Canadian dollar closed flat against the naira to trade at N1,200| CA$1 same as the previous trading day rate of N1,200| CA$1.
The naira also depreciated against the Euro to trade at ₦1,640/€1 as against the rate of ₦1,620/€1 the previous trading rate this represents a loss of N20 in the local currency....Continue The Full Reading.>’.
