Business
Naira appreciates against Dollar, Pound sterling at official, parallel markets
The Nigerian currency, the naira, continued its recovery against the dollar on Monday May 20, 2024 to trade at N1,468/$1 data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.
At the end of trading on Monday, the naira gained N29 against the dollar when compared to the previous exchange rate of N1,497/$1 on Friday, May 17, 2024.
The intra-day high and low recorded during the day were N1,550/$1 and N1,400/$1 respectively, representing a lean spread of N150 \$1.
Similarly, the naira recovered against the dollar at the parallel section of the market, to trade at N1,490/$1 representing a gain of N30 when compared to the N1,520/$1 it traded the previous trading day.
READ ALSO: No respite for naira, depreciates further to N1520/$1 at official window
The naira also appreciated against the British Pound to trade at N1,900\£1 as against the previous trading price of N1,940/£1 representing a gain of N40 for the local currency.
The Canadian dollar closed flat against the naira to trade at N1,200| CA$1 same as the previous trading day rate of N1,200| CA$1.
The naira also appreciated against the Euro to trade at ₦1,600/€1 as against the rate of ₦1,640/€1 the previous trading rate this represents a gain of N40 in the local currency.
-
Business5 days agoNigeria: Whither the fruits of 2026 crude oil windfall?
-
Latest6 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Comments and Issues7 days agoPolitical Parties Primaries: Consensus or Coronation?
-
Comments and Issues6 days agoDoes it matter to Africa if Nigel Farage comes to Number 10?
-
Business5 days agoTrump-Xi summit sparks fresh questions for Nigeria’s economy, tech sector
-
Business4 days agoNigeria’s foreign debt climbs 22% to $51.86bn under Tinubu administration
-
Comments and Issues6 days agoIs France Real or Playing Ping Pong With Africa?
-
Comments and Issues5 days agoThe “Onuku” Called Kenneth Okonkwo