Naira Watch
Naira loses N43, trades N1, 586/$1 at official window
The naira slumped against the American dollar on Thursday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency shed N43 to trade N1, 586/$1, up from N1, 543/$1 it traded on Wednesday.
The intra-day high and low recorded during the day were N1, 603/$1 and N1, 500/$1 respectively, representing a lean spread of N103\$1.
READ ALSO: Naira sheds N13, trades N1,592/$1 at official window
The naira also depreciated against the dollar at the parallel section of the forex market to trade N1,615/$1 as against the previous N1,610/$1.
The naira also lost N10 against the British Pound to trade N2, 100\£1 as against the previous N2, 090\£1.
The Canadian dollar continues to close flat against the naira to trade at N1,200 | CA$1.
The naira also lost N15 against the Euro to trade ₦1,760/€1 as against the previous ₦1,745/€1.
By: Babajide Okeowo
Join the conversation
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.
