Naira appreciates further, trades at N1,560/$1 at official market

The Nigerian naira appreciated further at the official market on Tuesday, March 19, 2024 to close at N1,560.57/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.

This represents an appreciation of N36.77 when compared to the ₦1,597.34/$1 it closed on, on Monday, March 18, 2024.

The intraday high was N1,626/$1, while the intraday low was N1,415/$1, representing a wide spread of N211/$1.

Similarly, the naira appreciated against the dollar at the parallel window to trade at N1,590/$1, this represents an appreciation of N10.00 as against the N1,600 /$1 it traded the previous day.

READ ALSO:Naira appreciates slightly, trades at N1,597.34/$1 at official market

The naira however slumped slightly against the British Pound to trade at N2,040/£1 as against the previous trading day’s price of N2,035/£1 representing a loss of N5 for the local currency.

The Canadian dollar, however, closed flat against the naira to trade at N1,270| CA$1 same as the N1,270| CA$1 it traded the previous day representing a decline of N20 in the local currency.

The naira gained N5 against the Euro to trade at ₦1,715/€1 as against the previous closing price of ₦1,720/€1.

By: Babajide Okeowo

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