The Naira trades N1,482/$1 in the official window

The Naira depreciated against the United States dollar on Friday and traded at N1, 476.24/$1.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the naira lost N6 against the dollar after trading at N1,482.72/$1 compared to N1,476.24/$1 recorded the previous day.

The intra-day high and low recorded during the day were N1, 490/$1 and N1, 390/$1 respectively, representing a very thin spread of N100\$1.

The naira gained N5 to the dollar in the parallel section of the market and traded at N1,485/$1, compared to N1,490/$1 the previous day.

READ ALSO: Naira loses N2 against dollar, trades at N1,483/$1 in official window

Similarly, the naira gained N20 against the British Pound and traded at N1,880\£1 versus N1,900\£1 the previous day.

For consecutive weeks, the Canadian dollar closed flat against the naira and traded at N1,200| CA$1.

The Naira also gained N10 against the Euro and traded at ₦1,570/€1 compared to ₦1,580/€1 the previous trading day.

By: Babajide Okeowo

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