Naira recovers at official window, black market - Ripples Nigeria
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Naira recovers at official window, black market

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Naira continues free fall against U.S dollar

The naira recovered against the American dollar at both the official and parallel windows on Monday, September 2, 2024.

The local currency traded at N1,585/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) and N1,635/$1 at the parallel market.

This indicated that the N1,585/$1 was N13 lower than the N1,598/$1 the currency traded at the official window the previous day.

The intra-day high and low recorded during the day were N1,619/$1 and N1,500/$1 respectively, representing a lean spread of N119\$1.

READ ALSO:Naira sheds N5 at official window, trades N1,598/$1

The naira gained N10 against the dollar at the parallel section of the forex market to trade N1,635/$1 as against the previous N1,645/$1.

The naira also gained N10 against the British Pound to trade N2,130/£1 as against the previous N2,140\£1.

The Canadian dollar closed flat against the naira to trade N1,250| CA$1.

The naira also gained N40 against the Euro to trade ₦1,780/€1 as against the previous day’s ₦1,820/€1.

By: Babajide Okeowo

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