Naira appreciates to N902.08/$1 at official market, slumps at parallel window

The Naira appreciated against the dollar on Thursday, 18th January 2024 at the official market data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window where forex is traded officially has shown.

The domestic currency appreciated to close at N902.08/$1 represents a gain of N29.15 gain in the local currency compared to the N931.23 closed on Wednesday January 17, 2024.

The intraday high recorded was N1261/$1, while the intraday low was N760/$1, representing a wide spread of N501/$1.

However, the naira depreciated at the parallel forex market where forex is sold unofficially, the exchange rate quoted at N1340/$1 as against the N1325/$1it closed the previous day, representing a loss of N15 while peer-to-peer traders quoted around N1358.53/$1.

READ ALSO:Naira slumps to N890.54/$1 at official market

The naira closed flat against the British Pound to close at N1,660/£1 same as the previous trading day.

The Canadian dollar also closed flat at N990/CA$1, after more than one week of trading steadily at N980/CA$1

The naira shed N70 against the Euro to depreciate to ₦1,450/€1 as against the previous closing price of ₦1,385/€1 it traded the previous trading day.

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