The Naira lost N5 in the official window, trading at N1,490/$1

The Nigerian currency, the naira started the week on a weaker note as it weakened slightly against the American dollar on Monday, June 24, 2024.

The domestic currency traded at N1,490.20/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed.

At the end of trading on Monday, the naira lost N5 against the dollar following the value of N1,485.53/$1 recorded on Friday, June 21, 2024.

The intra-day high and low recorded during the day were N1,505/$1 and N1,411/$1 respectively, representing a very thin spread of N94\$1.

READ ALSO: Naira dips slightly in official parallel window

Similarly, the naira slumped against the dollar on the parallel part of the market and traded at N1,505/$1, compared to the rate of N1,495/$1 traded on the previous trading day indicating a loss of N10 for the local currency.

However, the naira closed flat against the British Pound and traded at N1,890\£1 the same as the previous trading day’s rate of N1,890\£1.

For consecutive weeks, the Canadian dollar closed flat against the naira and traded at N1,200| CA$1 is equal to the previous trading day’s rate of N1,200| CA$1.

The Naira gained N10 against the Euro and traded at ₦1,580/€1 compared to the previous trading day’s rate of ₦1,590/€1.

By: Babajide Okeowo

The post Naira loses N5 in official window, trades at N1,490/$1 appeared first on Latest Nigerian News | Top News from Ripples Nigeria.