In the first official trading session after the Christmas and Boxing Day celebrations, the Naira gained against the dollar on Wednesday, December 27, 2023 at the official market to N872.59/$1, data from the official Nigeria Autonomous Foreign Exchange Market (NAFEM) window has shown.
This represents a gain of N13.29 or a 1.52% increase in the local currency compared to the N885.88 it traded on Friday last week.
The intraday high recorded was N1235.65/$1, while the intraday low was N740/$1, representing a wide spread of N495.65/$1.
According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $127.93 million, representing a 38.81% increase compared to the previous day.
Similarly, the Naira appreciated marginally at the parallel forex market where forex is sold unofficially, the exchange rate was quoted at N1220/$1 as against the N1233/$1 it traded the previous official trading day representing an appreciation of N13 while peer-to-peer traders quoted around N1297.60/$1.
The Naira also appreciated marginally against the British pound to N1,540/£1 as against the sum of N1,565/£1 recorded on Friday last week signifying a gain of N25.
Also, the naira appreciated against the Euro at N1,270/€1 as against the N1,285/€1 recorded in the last official trading day representing an appreciation of N15 while the Naira closed flat against the Canadian dollar at N975/CA$1.