Naira sheds N14, trades N1,577/$1 at official window

The Nigerian currency, the naira started the week with a slump against the American dollar on Monday, July 15, 2024.

The domestic currency shed N14 to trade at N1,577/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.

This is against the rate of N1,563/$1 it traded on Friday July 12, 2024.

The intra-day high and low recorded during the day were N1,590/$1 and N1,470/$1 respectively, representing a very lean spread of N120\$1.

The naira lost N5 against the dollar at the parallel section of the market to trade at N1,565|$1, as against the rate of N1,560/$1 it traded the previous trading day.

READ ALSO: Naira recovers marginally to trade N1, 554/$1 at official window

The naira crossed the N2,000 mark as it lost N10 against the British Pound to trade at N2,050\£1 as against the previous trading day’s rate of N2,040\£1 representing a loss of N10 for the local currency.

The Canadian dollar continues to close 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 lost N15 against the Euro to trade at ₦1,690/€1 as against the previous trading day’s rate of ₦1,675/€1.

By: Babajide Okeowo

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