Naira gains N46 to trade at N1,593/$1 on official exchange

The naira recovered against the US dollar on the official exchange on Friday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed the local currency strengthened by N46 to trade at N1,593/$1, down from N1,639/$ recorded at the official window the previous day.

The highest and lowest intraday prices recorded on the day were N1,665/$1 and N1,580/$1 respectively, indicating a very tight spread of N85\$1.

The naira strengthened by N15 against the dollar in the parallel section of the forex market to trade at N1,675/$1 against the previous N1,660/$1.

The Naira also weakened against the British Pound to N2,200/£1 compared to N2,180/£1 the previous day.

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

The Naira also lost N40 against the Euro to trade at ₦1,820/€1 compared to ₦1,780/€1 it was trading at on Thursday.

By: Babajide Okeowo

The post Naira surges by N46 to trade at N1,593/$1 on official exchanges appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.