Naira sheds N6 to trade N1,609/$1 at official window

The naira slumped again against the American dollar on Friday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency shed N6 to close the week at N1,609/$1, up N1,603/$1 it traded on Thursday.

The intra-day high and low recorded during the day were N1,615/$1 and N1,476/$1 respectively, representing a lean spread of N139\$1.

The naira gained N5 against the dollar at the parallel section of the foreign exchange market to trade N1,595|$1, as against N1,600/$1 it traded the previous day.

The naira also gained N15 against the British Pound to trade N2,060\£1 as against the previous N2,075\£1.

The Canadian dollar continues to close flat against the naira to trade N1,200| CA$1.

The naira also gained N30 against the Euro to trade ₦1,670/€1 as against the previous day’s ₦1,700/€1.

By: Babajide Okeowo

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