Business
Naira slumps to N814.60/$1 against the dollar at official market
The naira slumped against the dollar on Monday, November 27, 2023, to close at N814.60/$1 at the official Nigerian Autonomous Foreign Exchange Market NAFEM window.
This represents a loss of N19.71 in the local currency compared to the N794.89/$1 it closed on Friday.
The intraday high recorded was N1130/$1, while the intraday low was N701/$1, representing a huge N429/$1 disparity.
READ ALSO: Naira falls to N814.60/$1 at official market
According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $100.06 million, representing a 31.97% increase compared to the previous day.
Similarly, the naira dipped at the parallel forex market where forex is sold unofficially, the exchange rate dipped to N1157$1, almost the same as on Friday last week when it closed at N1155$1, while peer-to-peer traders quoted around N1159.20/$1.
While the naira slumped against the dollar, it maintained the same rate against the Pound, Euro and the Canadian dollar at ₦1,460/£1, ₦1,177.85/€1 and N900/CA$1 respectively.
-
Featured1 week agoInside INEC’s race to prepare for Nigeria’s 2027 elections
-
Featured1 week ago2027: APC unveils nationwide campaign timetable, Tinubu to rally in 12 states
-
Business5 days agoNaira faces exchange rate gap as Dollar hits N1,380 on parallel market
-
Business1 week agoCourt dismisses ₦170m Trade Fair contract claim, says Zenith Bank was not a party
-
Latest1 week agoBreaking: NNPCL raises petrol price to ₦1,405 per litre amid discount controversy
-
Featured1 week agoFrom kitchen to Supreme Court: Nigerian’s fight over alleged support for terrorists
-
Football1 week agoMaresca reveals Guardiola’s reaction to Man City’s 4-2 defeat to PSG
-
Business7 days agoNCC launches Internet Governance Working Group to tackle AI risks, boost online safety