Naira slumps again, trades N1,617/$1 at official window

 The naira slumped against the American dollar on Friday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency shed N47 to close the week at N1, 617/$1, up from N1, 570/$1 it traded on Thursday.

The intra-day high and low recorded during the day were N1,635/$1 and N1,550/$1 respectively, representing a very lean spread of N85\$1.

The naira gained N5 against the dollar at the parallel section of the forex market to trade N1,610/$1 as against N1,615/$1 posted the previous day.

The naira also gained N5 against the British Pound to trade at N2, 075\£1 as against the previous day’s N2, 080\£1.

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

 The naira gained N10 against the Euro to trade at ₦1,750/€1 as against the previous ₦1,740/€1.

 By: Babajide Okeowo

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