Naira sheds N4, trades at N1, 586/$1 in official window

The Naira, again on Wednesday, lost value against the American dollar.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency shed N4 to trade N1, 586/$1, up from N1, 582/$1 it traded on Tuesday.

The intra-day high and low recorded during the day were N1, 595/$1 and N1, 495/$1 respectively, representing a lean spread of N100/$1.

However, the Naira lost N2 against the dollar at the parallel section of the forex market to trade N1,600/$1, as against the N1,598/$1 it traded the previous day.

The Naira, however, gained N5 against the British Pound to trade N2,065/£1 as against the previous N2,070/£1.

The Canadian dollar continues to close flat against the Naira to trade N1,200/CA$1.

The Naira also lost N5 against the Euro to trade N1,720/€1 as against the previous N1,715/€1.

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