Naira drops N5 on official exchange, trading at N1,598/$1

The Naira fell against the US dollar on Friday, August 30, 2024.

The local currency was trading at N1,598/$1 on official exchanges according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This shows that N1,598/$1 is N5 higher than the N1,593/$1 traded on the official window the previous day.

The intraday high and low prices recorded during the day were N1,610/$1 and N1,511/$1 respectively, indicating a slim spread of N99\$1.

ALSO READ: Naira exchange rate strengthens, trading at N1,593/$ on official exchanges

The naira lost N15 against the dollar in the parallel section of the forex market to trade at N1,645/$1 against the previous N1,630/$1.

The Naira also lost N20 against the British Pound to trade at N2,140/£1 from N2,120\£1 previously.

The Canadian dollar closed flat against the naira and traded at N1.250|CA$1.

The Naira also lost N20 against the Euro to trade at ₦1,820/€1 compared to ₦1,800/€1 the previous day.

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