Naira begins week on losing note, sheds N65 to trade at ₦1234 at official window

The naira began the week on a losing note to make it the third consecutive day of depreciation against the American dollar on Monday April 22, 2024 at the official window as the domestic currency traded at N1,169/$1.

This is according to data sourced from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window.

At the end of trading on Monday, the naira lost N65 against the dollar when compared to the previous exchange rate of N1,169/$1 on Friday, April 19, 2024.

The intra-day high and low recorded during the day were N1,295/$1 and N1,051/$1 respectively, representing a lean spread of N244\$1.

READ ALSO:Naira slumps again, sheds N15 against dollar to trade at N1,169/$1 at official window

Similarly, the naira slumped against the dollar at the parallel market for the third consecutive day to trade at N1,250/$1 representing a loss of N100 when compared to the N1,150/$1 it traded the previous day.

The British Pound also slumped against the naira by N50 to trade at N1,550\£1 as against the previous trading price of N1,500/£1 representing a loss of N50 for the local currency,

The Canadian dollar however closed flat against the naira to trade at N1,000| CA$1 same as the previous trading day rate of N1,000| CA$1.

The Euro also slumped against the naira to trade at ₦1,300/€1 as against the rate of ₦1,280/€1 the previous trading rate indicating a gain of N20 in the European currency.

By: Babajide Okeowo

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