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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