Naira gains N59.7, trades N1,600/$1 at official window

The Naira gained N59.7 against the Dollar at the official foreign exchange market on Friday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency traded N1,600.78/$1, down from N1,650.49/$1 it traded at the official window on Thursday.

The naira lost N15 against the dollar at the parallel section of the forex market to trade N1, 725/$1 as against the previous day’s N1, 710/$1.

The naira also lost N20 against the British Pound to trade N2,270/£1 as against the previous N2,250\£1.

After several weeks of trading flat, the Canadian dollar gained N20 against the naira to N1, 300/CA$1 as against the previous N1, 280/CA$1.

The naira lost N10 against the Euro to trade ₦1,850/€1 as against the ₦1,860/€1 recorded on Thursday.

By: Babajide Okeowo

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