Naira appreciates slightly against dollar, closes at N901.41/$1 at official window

The Naira appreciated slightly against the dollar on Thursday, 14th December 2023 at the official Nigeria Autonomous Foreign Exchange Market (NAFEM) window.

The Nigerian currency appreciated by 0.36% to close at N901.41/$1 at the close of business, data from the NAFEM window where forex is officially traded, showed.

This represents an N3.24 gain or a 0.36% increase in the local currency compared to the N904.65/$1 it closed on Wednesday.

The intraday high recorded was N1185.10/$1, while the intraday low was N475/$1, representing a wide spread of N710.10/$1.

READ ALSO:Naira slumps further against dollar, trades at N904.65/$1 at official market

According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $147.20 million, representing a 21.76% increase compared to the previous day.

The naira also gained at the parallel forex market where forex is sold unofficially, the exchange rate was quoted at N1230/$1 against the N1260/$1 the previous day indicating a gain of N30 while peer-to-peer traders quoted around N1228.82/$1.

The naira also appreciated slightly against the British pound to N1,530/£1 against the rate of N1,580/£1 recorded on Wednesday.

The naira also gained against the Euro to close at ₦1,280/€1 against the ₦1,300/€1 on while the naira closed flat against the Canadian dollar at 960/CA$1.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now