Connect with us

Naira Watch

Naira recovers again, gains N72 against dollar to trade at N1,072/$1



The naira recovered from its one-day slump after weeks of steady gain against the American dollar on Wednesday April 17, 2024 at the official window as the domestic currency traded at N1,072/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window has shown.

At the end of trading on Wednesday, the naira gained N72 against the dollar when compared to the previous exchange rate of N1,148/$1 on Monday, April 15, 2024.

The intra-day high and low recorded during the day were N1,220/$1 and N981 /$1 respectively, representing a lean spread of N239\$1.

Similarly, the naira maintained steady gains against the dollar at the parallel market to trade at N1,050/$1 representing a gain of N50 when compared to the N1,100/$1 it traded the previous day.

READ ALSO:Amid declining FX reserves, naira sheds N12 against dollar, trades N1,148/$1 at official window

The British Pound also slumped against the naira by N50 to trade at N1,350\£1 as against the previous trading price of N1,400/£1 representing a gain of N50 for the local currency,

The Canadian dollar however appreciated against the naira to trade at N1,000| CA$1 as against the previous trading day rate of N950| CA$1 representing a loss of N50 for the local currency.

The Euro slumped against the naira to trade at ₦1,150/€1 as against the rate of ₦1,230/€1, the previous trading rate indicating a slump of N80 in the European currency.

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.

Donate Now