Naira Watch
Naira sheds N0.8, trades N1,660/$1 at official window
The Naira again depreciated by less than N1 against the Dollar at the official foreign exchange market on Thursday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency traded N1, 660.49/$1, N0.8 higher than the N1, 659.69/$1 it traded at the official window on Wednesday.
The naira lost N5 against the dollar at the parallel section of the forex market to trade N1, 710/$1 as against the previous day’s N1, 705/$1.
READ ALSO: Despite CBN’s intervention, World Bank lists naira among worst performing currencies in Africa
The naira however gained N20 against the British Pound to trade N2,250/£1 as against the previous N2,270\£1.
The Canadian dollar still traded at N1, 280/CA$1 on Thursday.
The naira closed flat against the Euro to trade ₦1,860/€1 today.
By: Babajide Okeowo
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