Naira closed flat against dollar at N1.579/$1

Nigeria’s currency, the naira, closed flat against the US dollar on Monday, August 19, 2024 to start the week with neither gains nor losses.

The local currency was trading at N1,579/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed.

This is equivalent to the exchange rate of N1.579/$1 traded on Friday, August 16, 2024.

The intraday high and low prices recorded during the day were N1,601/$1 and N1,470/$1 respectively, indicating a slim spread of N131\$1.

ALSO READ: Naira exchange rate drops by N15, trades at N1,579/$1 on official exchanges

Similarly, the naira closed flat against the dollar in the parallel section of the forex market to trade at N1.605/$1, unchanged from the previous exchange rate of N1.605/$1.

However, the naira strengthened by N10 against the British pound and was trading at N2,090\£1 compared to the previous trading day’s exchange rate of N2,100\£1.

The Canadian dollar continued to close flat against the naira and traded at N1,200|CA$1, the same as the previous day’s trading value of N1,200|CA$1.

The Naira also closed flat against the Euro and traded at ₦1,730/€1 the same as the previous trading day’s exchange rate of ₦1,730/€1.

By Babajide Okeowo

Naira closes flat against dollar at N1.579/$1 first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.