Naira begins week on losing note, trades at N1,419/$1 at official window

The naira began the week on a losing note against the American dollar on Monday April 29, 2024 at the official window to trade at N1,419/$1.

This is according to data sourced from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window.

At the end of trading on Monday, the naira lost N19.88 against the dollar when compared to the previous exchange rate of N1,399.23/$1 on Friday, April 27, 2024.

The intra-day high and low recorded during the day were N1,451/$1 and N1,060 /$1 respectively, representing a wide spread of N391\$1.

READ ALSO:Naira depreciation at official, parallel windows continues

However, the naira gained against the dollar at the parallel section of the market trading at N1,330/$1 representing a gain of N100 when compared to the N1,430/$1 it traded the previous day.

Contrastingly, the naira gained against the pound. The domestic currency appreciated by N10 against the British Pound to trade at N1,640\£1 as against the previous trading price of N1,650/£1 representing a gain of N10 for the local currency,

The Canadian dollar however closed flat against the naira to trade at N1,000/CA$1 same as the previous trading day rate.

The Euro also slumped against the naira to trade at ₦1,430/€1 as against the rate of ₦1,450/€1 the previous trading rate indicating a gain of N20 for the Nigerian currency.

By: Babajide Okeowo

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