Naira appreciates further to ₦1,602/$1 at official window

The Nigerian currency, the naira, Friday March 15, 2024 appreciated further against the American dollar to tumble to N1,602.75|$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window has shown.

This represents a loss of N6.23 when compared to the ₦1, 608.98/$1 it closed on, on Thursday, March 14, 2024.

The intraday high was N1,615/$1, while the intraday low was N1,524/$1, representing a lean spread of N91/$1.

READ ALSO:Naira reverses days of appreciation, tumbles to ₦1,615/$1 at official window

Meanwhile, the naira closed flat against the dollar for the second consecutive day to trade at N1,605/$1 same as the N1,605 /$1 it traded the previous day. As it stands, the naira is trading slightly lower than the parallel window with only N3 separating both windows.

The naira however gained against the British Pound to trade at N2,030/£1 as against the previous trading day’s price of N2,050/£1 representing a gain of N20 for the local currency.

The Canadian dollar also closed flat against the naira to trade at N1,250| CA$1 on Friday same as the N1,250| CA$1 it traded the previous day.

The naira gained N15 against the Euro to trade at ₦1,725/€1 as against the previous closing price of ₦1,740/€1.

By Babajide Okeowo

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