Business
Naira drops at official window, as parallel rate hits N1165/$1
The naira depreciated 0.10% to close at N832.32/$1 at the close of business on Thursday, the last day of November 2023 data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) where forex is officially traded, showed.
This represents a 0.85 kobo loss or a 0.10% decline in the local currency compared to the N831.47 it closed on Wednesday.
However, the Intraday high hits N1,137/$1 while the intraday low was N700.00/$1, representing a wide spread of N437/$1.
READ ALSO: Naira rebounds from 3-day slump, gains N50 at official market
Similarly, data obtained from the official NAFEM window indicated that forex turnover at the close of the trading was $115.41 million, representing a 17.76% decrease compared to the previous day.
Meanwhile, the domestic currency depreciated also at the parallel forex market where forex is sold unofficially, the exchange rate quoted at N1165/$1 while peer-to-peer traders were quoted around N1168.55/$1.
The naira also closed flat against the Pound at ₦1,450/£1 same as it traded on Wednesday, however, it slumped marginally against the Euro to close at ₦1,219.301 against the ₦1,192.795/€1 the previous trading rate. The Canadian dollar maintained the N900/CA$1 trading rate.
-
Business3 days agoOPay explains how Nigerians can access FG’s N50,000 monthly cash relief
-
Sports7 days agoSenegal opens Dakar 2026 Youth Olympic Games, Africa’s first Olympic event
-
Latest7 days agoFG Announces N50,000 cash support for vulnerable Nigerians under new relief programme
-
Business7 days agoNNPC’s N66-per-litre petrol discount set to end October 31
-
Latest7 days agoINEC recognises Pantami for Gombe, keeps Kano NDC candidate off final list
-
Latest1 week agoNetanyahu, Eisenkot face coalition deadlock as Israel struggles to form new government
-
Latest7 days agoNDC Chieftain tells Atiku to drop presidential ambition over son’s support for Tinubu
-
Crime7 days agoDoris Ogala remanded as Court adjourns bail hearing to November 6