Naira loses N23, trades at N1,485/$1 in official window

The Naira slumped against the dollar on Thursday, trading at N1, 485/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

At the end of trading on Thursday, the Naira lost N23 against the dollar, compared to the previous exchange rate of N1,462/$1 on Wednesday, May 22, 2024.

The intra-day high and low recorded during the day were N1,510/$1 and N1,401/$1 respectively, representing a lean spread of N109/$1.

Similarly, the Naira slumped against the dollar in the parallel section of the market, to trade at N1,506/$1, representing a loss of N5 compared to the N1,600/$1 it traded the previous trading day.

In contrast, the Naira appreciated against the British Pound to trade at N1,880/£1 as against the previous trading price of N1,900/£1 representing a gain of N20 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 appreciated against the Euro to trade at N1,570/€1, as against the rate of N1,600/€1 the previous trading rate, representing a gain of N30 in the local currency.

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