Naira strengthens against Dollar official market, trades at N856.57/$

The Nigerian currency, the Naira further gained against the dollar on Monday, 8th December 2024 at the official Nigerian Autonomous Foreign Exchange Market (Window) signifying the third gain in the New Year.

The domestic currency appreciated to/$1 at the close of business, data from the NAFEM window where forex is officially traded, showed.

This represents a gain of N12.56 in the local currency compared to the N869.13 it closed the previous day.

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The intraday high was N1,185 while the intraday low was N720.00 representing a spread of N465.

However, the naira closed flat against the parallel window closing at N1245/$1 same as the last trading day on Friday January 5, 2024 while peer-to-peer traders quoted around N1251.26/$1.

The naira however lost N10 against the British pound to close at N1,560/£1 as against the N1,550/£1 it traded on Friday.

Again, the Canadian dollar maintained a bit of stability to close at N980/CA$1, the same as its closing price yesterday.

The naira however closed flat against the Euro to slump to ₦1,320/€1 same as the previous closing price of ₦1,320/€1 the previous day.