Naira up N1, trading at N1,576/$1 on official exchange

The naira reversed its decline against the US dollar on Tuesday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed the local currency strengthened by N1 to trade at N1,576/$1, down from N1,577/$1 recorded at the official window on Monday.

The highest and lowest intraday prices recorded during the day were N1,592/$1 and N1,492/$1 respectively, indicating a narrow spread of N100\$1.

The naira lost N20 against the dollar in the parallel market to trade at N1,585|$1, against N1,565/$1 recorded the previous day.

ALSO READ: Naira drops N9 to N1,563/$1 on official exchanges

The Naira lost N10 against the British Pound to trade at N2,060\£1 from N2,050\£1 previously.

The Canadian dollar continued to close flat against the naira and traded at N1.200|CA$1.

The Naira lost N10 against the Euro to trade at ₦1,700/€1 compared to ₦1,690/€1 previously.

By: Babajide Okeowo

The post Naira surges N1, trades at N1,576/$1 on official window appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria.