Naira slumps to N1,523/$1 at official window

The Nigerian currency, the naira began the week against the American dollar on Monday, July 8, 2024 on a negative note.

The domestic currency shed N14 to trade at N1,523/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.

This is against the rate of N1,509/$1 it traded on Friday July 5, 2024.

The intra-day high and low recorded during the day were N1,540/$1 and N1,474/$1 respectively, representing a very lean spread of N66\$1.

READ ALSO:Naira sheds N8, trades N1,520/$1 at official window

The naira lost N5 against the dollar at the parallel section of the market to trade at N1,530$1, as against the rate of N1,525/$1 it traded the previous trading day.

The naira shed N25 against the British Pound to trade at N1,950\£1 as against the previous trading day’s rate of N1,925\£1 representing a loss of N25 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 shed N20 against the Euro to trade at ₦1,640/€1 as against the previous trading day’s rate of ₦1,620/€1.

By: Babajide Okeowo

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