Naira depreciates again, trades at N1,459/$1 in official window
The Naira has slumped again to N1,459/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
D’Gallery gathered that at the end of trading on Thursday, the Naira lost N38 against the Dollar compared to the previous exchange rate of N1,421/$1 on Tuesday, May 7, 2024.
The intra-day high and low recorded during the day were N1,465/$1 and N1,351/$1 respectively, representing a lean spread of N114/$1.
The Naira also lost against the Dollar at the parallel section of the market to trade at N1,455/$1 representing a loss of N5, compared to the N1,450/$1 it traded the previous trading day.
However, the Naira gained N20 against the pound. The domestic currency appreciated by N20 against the British Pound to trade at N1,820\£1 as against the previous trading price of N1,840/£1 representing a gain of N20 for the local currency,
The Canadian Dollar, however, closed flat against the Naira to trade at N1,000| CA$1 same as the previous trading day rate.
The Naira appreciated against the Euro to trade at N1,525/€1 as against the rate of N1,540/€1 the previous trading rate this represents a gain of N15 in the local currency.
