Connect with us

Naira Watch

Naira yoyo continues, short of N100 to hit N2,000/$1 at black window



The yoyo movement of the naira continued on Thursday, February 22, 2024 as the local currency declined to N1571.31/$1 data from the Nigerian Autonomous Foreign Exchange Market (Window where forex is traded officially has shown.

This represents a loss of N46.73 when compared to the N1542.58/$1 it traded on Wednesday.

The intraday high recorded a N1851/$1, while the intraday low was N1300/$1, representing a wide spread of N551/$1.

However, the naira remained flat at N1,900/$1 at the parallel market, the same as the previous day’s rate.

READ ALSO:Naira in riotous mode on parallel window dips to N1,900

The naira also closed flat against the British Pound to trade at N2,260/£1 same as the previous trading day’s price.

The naira also closed flat against the Canadian dollar to trade at N1,270/CA$1, same as the previous trading day’s rate.

The story is not different with the Euro as the European Union’s official trading currency closed flat against the naira to trade at ₦1,960/€1 same as the closing previous rate on Wednesday, February 21, 2024.

By Babajide Okeowo

Join the conversation


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