Naira depreciates, trades N1,672/$ at official window

The naira depreciated against the dollar at the official foreign exchange window on Friday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the Nigerian currency lost N27.83 to trade N1, 672.69/$1, up from N1, 644.86/$1 recorded on Thursday.

At the parallel section of the forex market, the naira gained N15 against the dollar to trade N1, 735/$1 as against the previous day’s N1, 750/$1.

READ ALSO: Naira recovers against dollar at official window, gains N16

The naira also gained N25 against the British Pound to trade N2,230/£1 as against the previous N2,255\£1.

The Canadian Dollar continues to hold steady, maintaining its N1,300/CA$1 rate.

The naira also gained N20 against the Euro to trade ₦1,850/€1 as against the previous day’s ₦1,870/€1.

By: Babajide Okeowo

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