The Nigerian currency, the naira, gained N2 against the American dollar on Tuesday, August 27, 2024 to reverse losses recorded the previous day.
The domestic currency traded at N1,594/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.
This is against the rate of N1,596/$1 it traded on Monday August 26, 2024.
The intra-day high and low recorded during the day were N1,612/$1 and N1,505/$1 respectively, representing a lean spread of N107$1.
The naira gained N5 against the dollar at the parallel section of the FX market to trade at N1,615/$1, as against the previous rate of N1,620/$1.
READ ALSO:Naira depreciates by N26 against dollar to trade at N1,596/$1 at official window
This now puts the difference between naira rate at the official window and the parallel market at N21.
The naira also lost N30 against the British Pound to trade at N2,120£1 as against the previous trading day’s rate of N2,090£1.
The Canadian dollar closed flat against the naira to trade at N1,250| CA$1 same as the previous day’s rate.
The naira lost another N15 against the Euro to trade at ₦1,800/€1 as against the previous trading day’s rate of ₦1,785/€1.
By: Babajide Okeowo
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