Naira loses N2, trades N1,485/$1 at official window

The naira slumped marginally against the United States dollar on Thursday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency traded at N1, 485.36/$1 on Thursday.
This was N2 higher than the N1, 483.02/$1 it traded on Wednesday.
The intra-day high and low recorded during the day were N1, 495/$1 and N1, 434/$1 respectively, representing a very lean spread of N61$1.
Similarly, the naira slumped against the dollar at the parallel section of the market to trade at N1,490/$1 as against the N1,483/$1 it traded the previous trading day.
In the same vein, the naira closed flat against the British Pound to trade at N1,900£1 same as the previous trading day’s rate of N1,900£1.
For several weeks consecutively, the Canadian dollar closed flat against the naira to trade at N1,200| CA$1.
The naira also lost N5 against the Euro to trade at ₦1,580/€1 as against the previous trading day’s rate of ₦1,575/€1.
By: Babajide Okeowo
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