Business
Naira crashes, trades at N1,416/$1 at official window
The Nigerian currency, the naira, reversed the gains recorded on Monday, May 6, 2024 to crash to N1, 416/$1 on Tuesday, May 7, 2024 data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.
At the end of trading on Tuesday, the naira lost N62.36 against the dollar when compared to the previous exchange rate of N1, 354.21/$1 on Monday, May 6, 2024.
The intra-day high and low recorded during the day were N1,441/$1 and N1,301 /$1 respectively, representing a lean spread of N144\$1.
Similarly, the naira lost against the dollar at the parallel section of the market to trade at N1,445/$1 representing a loss of N10 when compared to the N1,435/$1 it traded the previous trading day.
READ ALSO: Naira slumps again at official window
Contrastingly, the naira appreciated against the pound. The domestic currency appreciated by N20 against the British Pound to trade at N1,780\£1 as against the previous trading price of N1,800/£1 representing a loss of N50 for the local currency,
The Canadian dollar however closed flat against the naira to trade at N1,000| CA$1 same as the previous trading day rate.
The naira also closed flat against the Euro to trade at ₦1,500/€1 same as the rate of ₦1,500/€1 the previous trading rate.
-
Latest1 week agoIsrael marks 3 years since October 7 Hamas attack amid Gaza strikes, election debate
-
Energy7 days agoFuel Battle: Dangote, marketers and government clash over petrol imports
-
Latest2 days agoFull List: Meet the 2026 Nobel Prize winners across six categories
-
Football1 week agoNigeria’s World Cup exit under spotlight as FIFA’s DR Congo files emerge
-
Latest1 week agoUS Court set to rule on release of FBI, DEA records on Tinubu
-
Business1 week agoNigerian investors at a crossroads as fixed-income yields slide
-
Featured6 days ago103 Million Voters: What does INEC’s new register say about Nigeria’s population?
-
Latest1 week agoOyo APC crisis deepens as Oluyole reconciliation meeting ends in brawl