The Naira slumped again against the American dollar on Wednesday, July 24, 2024.
The domestic currency shed N38 to trade at N1,586/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
This is against the rate of N1,548/$1 it traded on Tuesday July 23, 2024.
The intra-day high and low recorded during the day were N1,617/$1 and N1,476/$1 respectively, representing a lean spread of N141/$1.
The Naira also slumped against the dollar at the parallel section of the FX market as the local currency shed N5 against the dollar to trade N1,595/$1, as against the rate of N1,500/$1 it traded the previous trading day.
The naira also shed N10 against the British Pound to trade at N2,070/£1 as against the previous trading day’s rate of N2,060/£1 representing a loss of N10 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 also lost N10 against the Euro to trade at N1,710/€1 as against the previous trading day’s rate of N1,700/€1.
