Naira drops N5 against dollar on official exchange, trading at N1,544/$1

The Naira weakened slightly by N5 against the US dollar on the official exchange on Thursday, September 19, 2024.

The local currency was trading at N1,544/$1 on the official exchange according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This shows that N1,544/$1 is N5 higher than the N1,539/$1 the currency traded at the official window on the previous trading day.

READ ALSO: Rupiah exchange rate plunges Rp1.6 trillion, to Rp1.656 trillion on the official market

For the third straight day, the naira traded steady against the dollar in the parallel section of the forex market at N1.665/$1.

A similar thing happened to the British Pound which also closed flat at N2.220/£1, the same as the previous exchange rate of N2.220\£1.

The Canadian dollar is trading at N1.280|CA$1 same as the previous exchange rate of N1.280|CA$1.

However, the naira strengthened N5 against the euro and was trading at ₦1,835/€1 against the previous day’s exchange rate of ₦1,840/€1.

By: Babajide Okeowo

The post Naira plunges N5 against dollar on official exchange, trades at N1,544/$1 appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.