Naira gains N7 against dollar, trades at N1,481/$1 at official window

The Nigerian currency, the naira, recovered slightly against the American dollar on Thursday June 6, 2024 to trade at N1,481/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.

At the end of trading on Wednesday, the naira gained N7 against the dollar, trading at N1,481/$1 as against the rate of N1,488/$1 recorded on Wednesday, June 5, 2024.

The intra-day high and low recorded during the day were N1,505/$1 and N1,401/$1 respectively, representing a lean spread of N104\$1.

However, the naira appreciated against the dollar at the parallel section of the market to trade at N1,495/$1, as against the rate of N1,500/$1 the previous day representing a gain of N5 for the local currency.

READ ALSO:Naira stable against dollar at official window, trades at N1,476/$1

Similarly, the naira gained against the British Pound to trade at N1,890\£1 as against the previous day’s rate of N1,900\£1 representing a gain of N10 for the local currency.

For several days running, the Canadian dollar closed flat against the naira to trade at N1,200| CA$1 same as the previous trading day rate of N1,200| CA$1.

The naira, also gained against the Euro to trade at ₦1,570/€1 as against the previous day’s rate of ₦1,600/€1 indicating a gain of N30 in the local currency.

By: Babajide Okeowo

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