Naira sheds N2 against dollar, trades at N1,483/$1 at official window

The Nigerian currency, the naira, slumped slightly against the American dollar on Friday June 7, 2024 to trade at N1,483/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.

At the end of trading on Friday, the naira gained N2 against the dollar, trading at N1,483/$1 as against the rate of N1,481/$1 recorded on Thursday, June 6, 2024.

The intra-day high and low recorded during the day were N1,507/$1 and N1,399/$1 respectively, representing a lean spread of N108\$1.

However, the naira appreciated against the dollar at the parallel section of the market to trade at N1,490/$1, as against the rate of N1,495/$1 the previous day representing a gain of N5 for the local currency.

READ ALSO:Naira gains N7 against dollar, trades at N1,481/$1 at official window

However, the naira slumped against the British Pound to trade at N1,920\£1 as against the previous day’s rate of N1,890\£1 representing a loss of N30 for the local currency.

For several days running, the Canadian dollar closed flat against the naira to trade at N1,200| CA$1 same as the previous trading day rate of N1,200| CA$1.

The naira, also slumped against the Euro to trade at ₦1,590/€1 as against the previous day’s rate of ₦1,570/€1 indicating a loss of N20 in the local currency.

By: Babajide Okeowo

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