Naira begins week with a slump at official window

The naira began the week with a slump against the dollar at the official foreign exchange window on Monday, November 18, 2024.

According to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM), the Nigerian currency fell to N1690.37/$1. This represents a loss of N38.12 against the dollar when compared to the N1652.25/$1 it traded on Friday, November 15, 2024.

At the parallel section of the FX market, the naira closed flat against the dollar to trade at N1, 740/$1 same as the previous day’s rate of N1, 740/$1.

READ ALSO: Naira slumps further against dollar, trades N1,652/$ at official window

The naira also closed flat against the British Pound to trade at N2,260/£1 same as the previous rate of N2,260\£1.

The Canadian Dollar continues to hold steady, maintaining its N1,300/CA$1 rate.

The naira further closed flat against the Euro to trade at ₦1,860/€1 same as the previous day’s rate of ₦1,860/€1.

By: Babajide Okeowo

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