The Naira, on Wednesday, reversed days of appreciation against the American dollar to tumble to N1,615.94|$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window has shown.
This represents a loss of N12.56 when compared to the N1,603.38/$1 it closed on Tuesday, March 12, 2024.
The intraday high was N1,635/$1, while the intraday low was N1,500/$1, representing a lean spread of N135/$1.
Meanwhile, the Naira shed N2 against the dollar at the parallel market as the local currency slumped to N1,605/$1 as against the N1,603 /$1 it traded the previous day. As it stands, the Naira is trading higher at the official window than the parallel window.
The Naira, however, appreciated against the British Pound to trade at N2,030/£1 as against the previous trading day’s price of N2,050/£1 representing a gain of N20 for the local currency.
The Canadian dollar also slumped slightly against the naira to trade at N1,250| CA$1 on Wednesday as against the N1,300| CA$1 it traded the previous day representing a gain of N50 for the local currency.
The Naira lost N20 against the Euro to trade at N1,720/€1 as against the previous closing price of N1,740/€1.
