Naira appreciates to ₦1, 608/$1 at official window

The Nigerian currency, the naira, Thursday March 14, 2024 appreciated against the American dollar to tumble to N1,608.98/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window has shown.

This represents a loss of N6.96 when compared to the ₦1, 615.94/$1 it closed on, on Wednesday, March 13, 2024.

The intraday high was N1,625/$1, while the intraday low was N1,576/$1, representing a lean spread of N49/$1.

Meanwhile, the naira closed flat against the dollar at the black market to trade at N1,605/$1 same as the N1,605 /$1 it traded the previous day. As it stands, just N3 separates the official window and the parallel window’s rates.

READ ALSO:Naira appreciates further against dollar at official window, trades at ₦1,603|$1

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

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

The naira lost N20 against the Euro to trade at ₦1,740/€1 as against the previous closing price of ₦1,720/€1.

By:Babajide Okeowo

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