Naira recovers, trade N1,500/$1 at official window
The Nigerian currency, the naira started the week on a positive note against the American dollar on Monday, July 22, 2024.
The domestic currency shed a massive N96 to trade at N1,500/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.
This is against the rate of N1,596/$1 it traded on Friday July 19, 2024.
The intra-day high and low recorded during the day were N1,610/$1 and N1,490/$1 respectively, representing a lean spread of N120\$1
The naira also continued its recovery against the dollar at the parallel section of the FX market as the local currency gained N10 against the dollar to trade N1,570|$1, as against the rate of N1,580/$1 it traded the previous trading day.
The naira also gained N20 against the British Pound to trade at N2,050\£1 as against the previous trading day’s rate of N2,070\£1 representing a gain of N20 for the local currency.
The Canadian dollar continues to close 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 gained N70 against the Euro to trade at ₦1,650/€1 as against the previous trading day’s rate of ₦1,720/€1
