The Naira closed the month and the week losing N1 against the American dollar on Friday trading at N1,485/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
At the end of trading on Friday, the Naira lost N1 against the dollar as against the previous exchange rate of N1,484/$1 recorded on Thursday, May 30, 2024.
The intra-day high and low recorded during the day were N1,550/$1 and N1,174/$1 respectively, representing a spread of N376/$1.
However, the Naira traded steady against the dollar at the parallel section of the market at N1,485/$1, same as the previous day’s rate.
The same scenario played out with the British Pound as it traded at N1,880/£1, same as the previous day’s rate.
For several days running, 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, however, slumped against the Euro to trade at N1,580/€1 as against the rate of N1,570/€1 the previous trading rate, representing a loss of N10 to the local currency.
