Naira Watch
Naira recovers, trades N1,593/$ at official window
The naira recovered against the American dollar at the official window on Thursday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency gained N13 to trade N1, 593/$1, down from N1,606/$1 it traded at the official window on Wednesday.
The intra-day high and low recorded during the day were N1, 612/$1 and N1, 499/$1 respectively, representing a lean spread of N113\$1.
However, the naira lost N10 against the dollar at the parallel section of the forex market to trade N1, 630/$1 as against the previous N1, 620/$1.
READ ALSO: Naira gains N16, trades N1,570/$1 at official window
It gained N5 against the British Pound to trade N2,120\£1 as against the previous N2,125\£1.
The Canadian dollar closed flat against the naira to trade N1,250| CA$1.
The naira gained N5 against the Euro to trade ₦1,800/€1 as against the previous day’s ₦1,805/€1.
By: Babajide Okeowo
Join the conversation
Opinions
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.