Naira depreciates massively against dollar at official window, trades at N1,665.50/$1

The naira slumped massively against the dollar on Friday, February 23, 2024 as the local currency declined to N1, 665.31/$1 data from the Nigerian Autonomous Foreign Exchange Market (Window where forex is traded officially has shown.

This represents a loss of N94.19 when compared to the N1,571.31/$1 it traded on Thursday.

The intraday high recorded was N1,805/$1, while the intraday low was N1,301/$1, representing a wide spread of N498/$1.

READ ALSO;Naira yoyo continues, short of N100 to hit N2,000/$1 at black window

However, the naira appreciated massively against the dollar at the parallel market hovering at N1,800/$1 same rate it traded the previous day.

Similarly, the naira also appreciated against the British Pound to trade at N2,100/£1 as against the previous trading day’s price of N2,260/£1. This represents an appreciation of N160.

The naira also closed flat against the Canadian dollar to trade at N1,270/CA$1, same as the previous trading day’s rate.

The Euro however shed N60 against the naira to trade at ₦1,900/€1 as against the previous closing price of ₦1,960/€1 on Thursday, February 22, 2024.

By Babajide Okeowo

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