Naira gains N117 to trade at N1,539/$1 on official exchange

The naira strengthened by N117 against the US dollar on the official exchange on Wednesday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed the local currency was trading at N1,539/$1, below the N1,656/$1 it traded at the official window the previous day.

The naira closed flat against the dollar in the parallel section of the forex market to trade at N1,660/$1.

ALSO READ: Naira drops N110, trades at N1,656/$1 on official market

The currency also closed flat against the British pound and was trading at N2,220/£1.

However, the Canadian dollar weakened by N30 against the naira to N1,280|CA$1 compared to N1,250|CA$1 previously.

The Naira also lost N15 against the Euro to trade at ₦1,840/€1 compared to ₦1,825/€1 previously.

By: Babajide Okeowo

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