Naira appreciates at both parallel, official market

The Nigerian naira appreciated further at both the official and parallel market on Wednesday, March 20, 2024 to close at ₦1492.61/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.

This represents an appreciation of N67.96 when compared to the N1,560.57/$1 it closed on Tuesday, March 19, 2024.

The intraday high was N1,620/$1, while the intraday low was N1,350/$1, representing a wide spread of N270/$1.

Similarly, the naira appreciated against the dollar at the parallel window to trade at N1,520/$1, this represents an appreciation of N70.00 as against the N1,580 /$1 it traded the previous day.

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The naira also appreciated slightly against the British Pound to trade at N2,020/£1 as against the previous trading day’s price of N2,040/£1 representing a gain of N20 for the local currency.

The Canadian dollar, however, closed flat against the naira to trade at N1,270| CA$1 same as the N1,270| CA$1 it traded the previous day representing a decline of N20 in the local currency.

The naira gained N15 against the Euro to trade at ₦1,700/€1 as against the previous closing price of ₦1,715/€1.