Naira makes recovery against dollar at official, parallel markets

The naira made a strong recovery against the dollar at both the official and parallel foreign exchange windows on Friday, December 6, 2024.

According to official data, the Nigerian currency appreciated to N1,535/$1 at the official window.

This represents a gain of N32 against the dollar when compared to the N1,567/$1 it traded on Thursday, November 29, 2024.

At the parallel section of the FX market, the naira also gained a massive N100 against the dollar to trade at N1,600/$1 as against the previous day’s rate of N1,700/$1.

READ ALSO: Naira makes slow recovery in Nigeria’s return to Int’l capital market, gains N9

The naira gained a massive N210 against the British Pound to trade at N2,000/£1 as against the previous day’s rate of N2,210\£1.

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

The naira lost N10 against the Euro to trade at ₦1,810/€1 as against the previous day’s rate of ₦1,800/€1.

By: Babajide Okeowo

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