Naira tumbles marginally to N882.24/$1 at official market

The Nigerian naira tumbled against the dollar marginally on Wednesday, January 24th, 2024, in the official window, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown

The domestic currency depreciated by N3.93 to close at N882.24/$1 when compared to the N882.24 it closed at on the previous day.

The intraday high recorded was N1313/$1, while the intraday low was N700/$1, representing a wide spread of N613/$1.

Meanwhile, the naira closed flat at the parallel forex market where forex is sold unofficially, the exchange rate quoted at N1365/$1 same as the previous day while peer-to-peer traders quoted around N1399.12/$1.

READ ALSO:Naira recovers slightly against dollar, trades at N878.61/$1 at official window

Similarly, the naira shed N5 off its price at the parallel window where forex is sold unofficially, the exchange rate was quoted at N1365/$1 as against the price of N1360/$1 the previous day, while peer-to-peer traders quoted around N1393/$1.

The naira closed flat against the British Pound at N1,725/£1 same as the previous day’s trading.

The Canadian dollar slumped slightly against the naira closing at N960/CA$1 as against the rate of N1000//CA$1 it traded on Tuesday, January 23, 2024.

The naira slumped against the Euro, trading at ₦1,455/€1 as against the previous closing price of ₦1,445/€1 at the last trading day representing a loss of N10.

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