Naira slumps further at official window to trade N1,625/$1

The naira slumped further against the American dollar at the official window on Wednesday, September 4, 2024.

The local currency traded at N1,625/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This indicated that the N1,625/$1 was N14 higher than the N1,611/$1 the currency traded at the official window the previous day.

The intra-day high and low recorded during the day were N1,640/$1 and N1,400/$1 respectively, representing a wide spread of N240\$1.

READ ALSO:Naira recovers at official window, black market

The naira shed N5 against the dollar at the parallel section of the forex market to trade N1,645/$1 as against the previous N1,640/$1.

The naira also shed N15 against the British Pound to trade N2,160/£1 as against the previous day’s rate of N2,145\£1.

The Canadian dollar closed flat against the naira to trade N1,250| CA$1.

The naira however gained N10 against the Euro to trade ₦1,800/€1 as against the previous day’s ₦1,810/€1.

By Babajide Okeowo

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