Naira Watch
Naira sheds N110, trades N1,656/$1 at official market
The naira shed N110 against the American dollar at the official window on Tuesday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency traded N1,656/$1, up from the N1,546/$1 it traded at the official window the previous day.
However, the naira gained N5 against the dollar at the parallel section of the forex market to trade N1,660/$1 as against the previous N1,665/$1.
READ ALSO: Naira recovers further, gains N13 to trade at N1,580/$1>
The naira closed flat against the British Pound to trade N2,220/£1.
The Canadian dollar closed flat against the naira to trade N1,250| CA$1.
The naira also lost N5 against the Euro to trade ₦1,825/€1 as against the previous day’s ₦1,820/€1.
By: Babajide Okeowo
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