The Naira recovered from its slump against the dollar on Friday to trade at N1,482/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
At the end of trading on Friday, the Naira gained N3 against the dollar compared to the previous exchange rate of N1,485/$1 on Thursday, May 23, 2024.
The intra-day high and low recorded during the day were N1,511/$1 and N1,400/$1 respectively, representing a lean spread of N110/$1.
However, the Naira slumped against the dollar in the parallel section of the market, to trade at N1,510/$1 representing a loss of N4 compared to the N1,506/$1 it traded the previous trading day.
Similarly, the Naira slumped against the British Pound to trade at N1,900/£1 as against the previous trading price of N1,880/£1 representing a loss 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 slumped against the Euro to trade at ₦1,580/€1 as against the rate of N1,570/€1 the previous trading rate, representing a loss of N10 in the local currency.
