The naira closed the week on a high note against the American dollar at the official window on Friday, September 13, 2024.
The local currency traded at N1,546/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
This indicated that the N1,546/$1 was N103 higher than the N1,649/$1 the currency traded at the official window the previous trading day.
For the week in review, the Naira rebounded against the dollar by N47, it opened on Monday September 9, 2024 at N1593/$1 while closing at N1,546/$1 on Friday September 13, 2024.
The week under review had mixed sentiments of three gains and two losses.
READ ALSO:Naira sheds N57 to trade at N1,637/$1 at official window
On Monday, Wednesday and Friday the Naira appreciated against the dollar while it depreciated on Tuesday and Thursday data from FMDQ showed.
However, the naira closed flat against the dollar at the parallel section of the forex market to trade N1,665/$1 same as the previous day’s rate of N1,665/$1.
The naira however closed flat against the British Pound to trade N2,220/£1 same as the previous rate of N2,220£1.
The Canadian dollar closed flat against the naira to trade N1,250| CA$1.
The naira however gained N5 against the Euro to trade ₦1,820/€1 as against the previous day’s ₦1,815/€1.
By: Babajide Okeowo
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