Naira gains N5, trades N1,596/$1 at official window

The naira recovered further against the American dollar on Wednesday.
Data from Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency gained N5 to trade at N1, 596/$1, down from N1, 601/$1 it traded on Tuesday.
The intra-day high and low recorded during the day were N1,628/$1 and N1,520/$1 respectively, representing a lean spread of N108$1.
The naira lost N13 against the dollar at the parallel section of the forex market to trade N1,620/$1 as against the N1,607/$1 it traded the previous day.
The naira, however, lost N10 against the British Pound to trade at N2,100£1 as against the previous N2,090£1.
The Canadian dollar continues to close flat against the naira to trade at N1,200/CA$1.
The naira gained N10 against the Euro to trade at ₦1,730/€1 as against the previous ₦1,740/€1.
By: Babajide Okeowo
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