Naira Watch
Naira sheds N127 to trade N1669/$1 at official window
The Naira shed N127 against the dollar at the official window on Wednesday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency traded at N1669.15/$1, higher than the N1,541.94/$1 it traded at the official window on Monday.
The naira, however, gained N10 against the dollar at the parallel section of the forex market to trade N1,690/$1 as against the previous N1,700/$1.
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The naira gained N20 against the British Pound to trade N2,260/£1 as against the N2,280\£1 posted on Monday.
The Canadian dollar still traded at N1,280| CA$1 same as the previous N1,280| CA$1.
The naira gained N20 flat against the Euro to trade ₦1,860/€1 as against the previous day’s ₦1,880/€1.
By: Babajide Okeowo
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