Naira depreciates marginally, trades N1, 631/$1 at official window

The Naira depreciated marginally against the American dollar at the official foreign exchange market on Wednesday, October 30, 2024.

The local currency traded at N1,631.17/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This indicated that the N1,631.17/$1 was N0.72 higher than the N1,630.45/$1 that the currency traded at the official window the previous day.

The naira lost N5 against the dollar at the parallel section of the forex market to trade at N1, 750/$1 as against the previous day’s rate of N1, 745/$1.

READ ALSO: Naira slumps massively, sheds N70, trades at N1, 670/$1 at official window

The naira also lost N10 against the British Pound to trade at N2,270/£1 as against the previous rate of N2,260\£1.

After several weeks of closing flat, the Canadian dollar still maintains N1, 300/CA$1 the same as the previous rate of N1, 300/CA$1.

The naira lost N8 against the Euro to trade at ₦1,860/€1 as against the previous day’s rate of ₦1,868/€1.

By: Babajide Okeowo

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