Naira trades N1,482/$1 at official window

The naira depreciated against the United States dollar on Friday to trade at N1, 476.24/$1.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that naira lost N6 against the dollar after trading at N1,482.72/$1 as against the N1,476.24/$1 recorded the previous day.

The intra-day high and low recorded during the day were N1, 490/$1 and N1, 390/$1 respectively, representing a very lean spread of N100\$1.

The naira gained N5 against the dollar at the parallel section of the market to trade at N1,485/$1, as against N1,490/$1 for the previous day.

READ ALSO: Naira sheds N2 against dollar, trades at N1,483/$1 at official window

Similarly, the naira gained N20 against the British Pound to trade at N1,880\£1 as against the previous day’s N1,900\£1.

For several weeks consecutively, the Canadian dollar closed flat against the naira to trade at N1,200| CA$1.

The naira also gained N10 against the Euro to trade at ₦1,570/€1 as against the previous trading day’s ₦1,580/€1.

By: Babajide Okeowo

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