Naira trades N1,581/$1 at official window

The naira continued its slump against the American dollar on Wednesday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency lost N5 to trade N1, 581/$1, up from the N1, 576/$1 recorded at the official window on Tuesday.
The intra-day high and low recorded during the day were N1,620/$1 and N1,500/$1 respectively, representing a lean spread of N120$1.
The naira lost N30 at the parallel section of the market to trade N1,615|$1 as against N1,585/$1 posted the previous day.
The naira lost N20 against the British Pound to trade N2, 080£1 as against the previous day’s N2, 060£1.
The Canadian dollar continued to close flat against the naira to trade at N1,200| CA$1.
The Nigerian currency lost N20 against the Euro to trade ₦1,720/€1 as against ₦1,700/€1 traded on Tuesday.
By: Babajide Okeowo
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