The Naira rebounded on Friday, February 9, 2024 to reverse the loss of the local currency on Thursday, February 8, 2024 as the domestic currency appreciated to N1,469.97/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window has shown.
This represents a gain of N9.50 when compared to the N1479.47/$1 it traded the previous day.
The intraday high recorded was N1,560.00/$1, while the intraday low was N996.00/$1, representing a wide spread of N564.00/$1.
The Naira also appreciated at the parallel market where forex is sold unofficially, the exchange rate quoted at N1,490/$1 as against the N1,500/$1 it traded the previous day, this represents a gain of N10 in the local currency while peer-to-peer traders quoted around N1496/$1.
The Naira also gained N5 against the British Pound to trade at N1,885/£1 as against the N1,890/£1 it traded the previous trading day.
The Naira closed flat against the Canadian dollar to trade at N1200/CA$1, same as the previous day.
Meanwhile, the Naira appreciated by N10 against the Euro, to trade at N1,575/€1 as against the previous closing price of N1,585/€1.
