Naira maintains gain against dollar, appreciates to N844.85/$1 at official market  

The Nigerian naira maintained the gain recorded on Monday to further appreciate against the dollar on Tuesday, 19th December 2023, closing at N844.85/$1 at the official Nigeria Autonomous Foreign Exchange Market (NAFEM) window.

This represents an N43.5 gain or a 5.15% increase in the local currency compared to the N888.35 it closed on Monday.

The intraday high recorded was N1189.12/$1, while the intraday low was N720/$1, representing a wide spread of N469.12/$1.

According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $111.76 million, representing an 18.91% decrease compared to the previous day.

READ ALSO:Naira gains marginally at official window  , slumps at black market

However, the naira appreciated marginally at the parallel forex market where forex is sold unofficially, the exchange rate appreciated by N10 to be quoted at N1235/$1, as against the at N1245/$1 quoted the previous day while peer-to-peer traders quoted around N1240.60/$1.

The naira also slumped slightly against the British pound to N1,550/£1 as against the sum of N1,535/£1 recorded on Monday signifying a loss of N15.

The naira however closed flat against the Euro at ₦1,285/€1 same as yesterday while the naira closed flat against the Canadian dollar at N975/CA$1.

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