The Naira, appreciated slightly on Tuesday, February 13, 2024 to close at N1,499.07/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window where the forex is traded officially has shown.
This represents a gain of N35.32 in the local currency when compared to the N1,534.39 it closed at on the previous day.
The intraday high recorded was N1,550/$1, while the intraday low was N1,000/$1, representing a wide spread of N550/$1, the same as what was recorded the previous day.
Contrastingly, the Naira depreciated at the parallel market where forex is sold unofficially, the exchange rate quoted at N1,532/$1 as against the N1,495/$1 it traded the previous day, this represents a loss of N37 in the local currency while peer-to-peer traders quoted around N1,496/$1.
The Naira also shed a further N5 against the British Pound to trade at N1,900/£1 as against the N1,895/£1 it traded the previous trading day.
The Naira closed flat against the Canadian dollar to trade at N1,200/CA$1, same as the previous day.
Meanwhile, the Naira slumped again against the Euro, it shed N20 to trade at N1,620/€1 as against the previous closing price of N1,600/€1.
