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

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