Naira sheds N3, trades at N1,510/$1 at official market

For the fourth consecutive day this week, the naira slumped against the United States dollar to further inch past the N1, 500 mark on Thursday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency shed N3 to trade at N1, 510/$1 at the official market.

This was N3 higher than the N1, 507.83/$1 the currency traded on Wednesday.

The intra-day high and low recorded during the day were N1, 577/$1 and N1, 431/$1 respectively, representing a lean spread of N134\$1.

READ ALSO: Despite slump to N1,500/$1, Cardoso says worst of naira volatility over

Similarly, the naira slumped against the dollar at the parallel section of the market to trade at N1,520/$1, as against the rate of N1,505/$1 it traded the previous day.

The naira also shed N10 against the British Pound to trade at N1,900\£1 as against the previous N1,890\£1.

The Canadian dollar continues to close flat against the naira to trade at N1,200| CA$1.

The naira lost N10 against the Euro to trade at ₦1,590/€1 as against the previous ₦1,580/€1.

By: Babajide Okeowo

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