Naira closes week on high, gains N103 against dollar at official window

The naira closed the week on a high note against the American dollar at the official window on Friday, September 13, 2024.

The local currency traded at N1,546/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This indicated that the N1,546/$1 was N103 higher than the N1,649/$1 the currency traded at the official window the previous trading day.

For the week in review, the Naira rebounded against the dollar by N47, it opened on Monday September 9, 2024 at N1593/$1 while closing at N1,546/$1 on Friday September 13, 2024.

The week under review had mixed sentiments of three gains and two losses.

READ ALSO:Naira sheds N57 to trade at N1,637/$1 at official window

On Monday, Wednesday and Friday the Naira appreciated against the dollar while it depreciated on Tuesday and Thursday data from FMDQ showed.

However, the naira closed flat against the dollar at the parallel section of the forex market to trade N1,665/$1 same as the previous day’s rate of N1,665/$1.

The naira however closed flat against the British Pound to trade N2,220/£1 same as the previous rate of N2,220\£1.

The Canadian dollar closed flat against the naira to trade N1,250| CA$1.

The naira however gained N5 against the Euro to trade ₦1,820/€1 as against the previous day’s ₦1,815/€1.

By: Babajide Okeowo

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