The naira slumped marginally against the United States dollar on Thursday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency traded at N1, 485.36/$1 on Thursday.
This was N2 higher than the N1, 483.02/$1 it traded on Wednesday.
The intra-day high and low recorded during the day were N1, 495/$1 and N1, 434/$1 respectively, representing a very lean spread of N61$1.
Similarly, the naira slumped against the dollar at the parallel section of the market to trade at N1,490/$1 as against the N1,483/$1 it traded the previous trading day.
In the same vein, the naira closed flat against the British Pound to trade at N1,900£1 same as the previous trading day’s rate of N1,900£1.
For several weeks consecutively, the Canadian dollar closed flat against the naira to trade at N1,200| CA$1.
The naira also lost N5 against the Euro to trade at ₦1,580/€1 as against the previous trading day’s rate of ₦1,575/€1.
By: Babajide Okeowo
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