Naira appreciates slightly against dollar, closes at N901.41/$1 at official window

The Naira appreciated slightly against the dollar on Thursday, 14th December 2023 at the official Nigeria Autonomous Foreign Exchange Market (NAFEM) window.

The Nigerian currency appreciated by 0.36% to close at N901.41/$1 at the close of business, data from the NAFEM window where forex is officially traded, showed

This represents an N3.24 gain or a 0.36% increase in the local currency compared to the N904.65/$1 it closed on Wednesday.

The intraday high recorded was N1185.10/$1, while the intraday low was N475/$1, representing a wide spread of N710.10/$1.

According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $147.20 million, representing a 21.76% increase compared to the previous day.

The naira also gained at the parallel forex market where forex is sold unofficially, the exchange rate was quoted at N1230/$1 against the N1260/$1 the previous day indicating a gain of N30 while peer-to-peer traders quoted around N1228.82/$1.

The naira also appreciated slightly against the British pound to N1,530/£1 against the rate of N1,580/£1 recorded on Wednesday.

The naira also gained against the Euro to close at ₦1,280/€1 against the ₦1,300/€1 on while the naira closed flat against the Canadian dollar at 960/CA$1

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