The Naira, on Wednesday, reversed the gain made on Tuesday against the American dollar, trading at N1,329/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
At the end of trading on Wednesday, the Naira lost N156 against the dollar as against the previous exchange rate of N1,173/$1 on Tuesday, May 28, 2024.
The intra-day high and low recorded during the day were N1,506/$1 and N1,010/$1 respectively, representing a big spread of N496/$1.
However, the Naira appreciated against the dollar at the parallel section of the market, to trade at N1,490/$1 representing a gain of N25 compared to the N1,515/$1 it traded the previous trading day.
Similarly, the Naira gained against the British Pound to trade at N1,900\£1 as against the previous trading price of N1,930/£1, representing a gain of N30 for the local currency.
The Canadian dollar closed 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 also gained against the Euro to trade at N1,600/€1 as against the rate of N1,630/€1 the previous trading rate, representing a gain of N30 in the local currency.
