Naira Watch
Naira recovery continues, trades at ₦1,278/$1 at official window
The naira has continued its recovery against the dollar at the official window to trade at ₦1278.58/$1 on the first official trading day in April 2024 data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.
This represents a gain of N30.81 for the local currency when compared to the N1,309.39/$1 it traded the previous trading day.
The intra-day high was N1,312/$1 while the intra-day low was N1,250/$1 representing a lean spread of N52/$1.
Similarly, the naira appreciated against the dollar at the parallel window to trade at N1,255/$1, this represents an appreciation of N75.00 as against the N1,330 /$1 it traded the previous day.
READ ALSO:Naira falls by 0.7%, exchanges for N1, 309/$ at official market
The naira also appreciated against the British Pound to trade at N1,750/£1 as against the previous trading day’s price of N1,840/£1 representing a gain of N90 for the local currency
After over a week of closing flat, the Canadian dollar depreciated against the naira to trade at N1,150| CA$1 as against the N1,220| CA$1 it traded the previous day.
The naira also gained a massive N140 against the Euro to trade at ₦1,360/€1 as against the previous closing price of ₦1,500/€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.