Saturday, July 20, 2024
Saturday, July 20, 2024

Naira Slumps Again at Official Window, Trades at N1,402/$1

Date:

The naira reversed the gain it recorded on Tuesday to depreciate against the American Dollar at the end of trading on Thursday May 2, 2024, at the official window.

The domestic currency traded at N1,402.67/$1 according to data sourced from the Nigerian Autonomous Foreign Exchange Market (NAFEM) window.

At the end of trading on Thursday, the naira lost N12.67 against the dollar when compared to the previous exchange rate of N1,390/$1 on Tuesday, April 30, 2024.

The intra-day high and low recorded during the day were N1,445/$1 and N1,299 /$1 respectively, representing a lean spread of N146\$1.

Similarly, the naira lost against the dollar at the parallel section of the market to trade at N1,380/$1 representing a loss of N60 when compared to the N1,320/$1 it traded the previous trading day before the Workers Day celebration.

In the same vein, the naira depreciated against the pound. The domestic currency depreciated by N50 against the British Pound to trade at N1,750\£1 as against the previous trading price of N1,700/£1 representing a loss of N50 for the local currency,

The Canadian dollar however closed flat against the naira to trade at N1,000| CA$1 same as the previous trading day rate.

The naira also slumped against the Euro to trade at ₦1,500/€1 as against the rate of ₦1,450/€1 the previous trading rate indicating a loss of N50 for the Nigerian currency.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Hardship: Labour Kicks as 20 States Deny Workers Wage Award

Eight months after the Federal Government commenced payment of...

LP alleges Enugu Govt Awarded N100b Contract to 4-day-old Company

The Enugu State chapter of the Labour Party (LP)...

Shettima justifies Tinubu’s Tax Reforms, Says They Were Initiated to Benefit Nigerians

Vice-President Kashim Shettima has justified the tax reforms of...

RIVERS CRISIS: Ex-PDP Nat’l Chairman Reveals Real Reason Behind Wike, Fubara Fight

Former National Chairman of the Peoples Democratic Party (PDP),...
× Contact Us