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Naira Watch

Naira recovery against dollar continues, trades at ₦1255/$1



The Nigerian domestic currency, the naira has continued its recovery against the American dollar at the official window for the third consecutive trading day in April 2024 to trade at ₦1,255.07/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.

This represents a gain of N7.78 for the local currency when compared to the N1,262.85/$1 it traded the previous trading day.

The intra-day high was N1,294/$1 while the intra-day low was N1,200/$1 representing a lean spread of N94/$1.

Similarly, the naira maintained steady appreciation against the dollar at the parallel window to trade at N1,255/$1.

READ ALSO:Naira up by 1.23%, exchanges for N1,262/$ at official market

The British Pound also crashed to N1,620\£1 as against the previous trading price of N1,740/£1 representing a gain of N120 for the local currency,

The Canadian dollar depreciated against the naira to trade at N1,150| CA$1 as against N1,220| CA$1 it traded the previous day representing a gain of N70 for the local currency.

The euro also crashed against the Euro to trade at ₦1,330/€1 as against the previous closing price of ₦1,360/€1.

By: Babajide Okeowo

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