Naira traded at N1,601/$1 on the official window

The naira continued its recovery against the US dollar on Tuesday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed the local currency strengthened by N6 to trade at N1,601/$1, down from N1,607/$1 it traded at on Monday.

The highest and lowest intraday prices recorded during the day were N1,623/$1 and N1,560/$1 respectively, indicating a very tight spread of N63\$1.

The naira weakened N2 against the dollar in the parallel forex market to trade at N1,607/$1 compared to N1,605/$1 previously.

ALSO READ: Naira down N2 at start of week to N1,611/$1 on official exchanges

However, the naira strengthened by N10 against the British pound to trade at N2,090\£1 from N2,100\£1 previously.

The Canadian dollar continued to close flat against the naira and traded at N1.200|CA$1.

The Naira strengthened by N10 against the Euro to trade at ₦1,740/€1 compared to ₦1,750/€1 previously.

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