Naira slumps marginally against dollar, trades N1, 483/$1 at official window - Ripples Nigeria
Connect with us

Naira Watch

Naira slumps marginally against dollar, trades N1, 483/$1 at official window

Published

on

The Naira slumped marginally against the United States dollar in the first official trading session after the Eid-El-Kabir holidays on Wednesday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency traded at N1, 483.02/$ in today’s trading.

This was N1 higher than the N1, 482.72/$1 it recorded on Friday.

The intra-day high and low recorded during the day were N1,514/$1 and N1,390/$1 respectively, representing a very lean spread of N124\$1.

READ ALSO: Naira down by N3, trades N1, 476/$1 at official window

Similarly, the naira slumped against the dollar at the parallel section of the market to trade at N1, 483/$1 as the N1, 485/$1 it traded the previous trading day.

In the same vein, the naira lost N20 against the British Pound to trade at N1, 900\£1 as against the previous trading day’s N1,880\£1.

For several weeks consecutively, the Canadian dollar closed flat against the naira to trade at N1,200| CA$1.

The naira also lost N5 against the Euro to trade at ₦1,575/€1 as against the previous trading day’s rate of ₦1,570/€1.

By: Babajide Okeowo

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Exit mobile version