Naira records mixed fortune in official, parallel sections of FX market

The Naira, on Friday, gained N59.7 against the Dollar in the official foreign exchange market.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency traded N1,600.78/$1, down from N1,650.49/$1 it traded in the official window on Thursday.

The Naira lost N15 against the dollar in the parallel section of the forex market to trade N1, 725/$1, as against the previous day’s N1, 710/$1.

The Naira also lost N20 against the British Pound to trade N2,270/£1 as against the previous N2,250/£1.

After trading flat for several weeks, the Canadian dollar gained N20 against the Naira, to exchange at N1, 300/CA$1, as against the previous N1, 280/CA$1.

The Naira lost N10 against the Euro to trade N1,850/€1, as against the N1,860/€1 recorded on Thursday.

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