Naira sustains recovery against dollar at both parallel, official market

The Nigerian domestic currency, the naira has continued its recovery against the American dollar at the official window for the third consecutive trading day in April 2024 to trade at ₦1,255.07/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.

This represents a gain of N7.78 for the local currency when compared to the N1,262.85/$1 it traded the previous trading day.

The intra-day high was N1,294/$1 while the intra-day low was N1,200/$1 representing a lean spread of N94/$1.

Similarly, the naira maintained steady appreciation against the dollar at the parallel window to trade at N1,255/$1.

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The British Pound also crashed to N1,620\£1 as against the previous trading price of N1,740/£1 representing a gain of N120 for the local currency,

The Canadian dollar depreciated against the naira to trade at N1,150| CA$1 as against N1,220| CA$1 it traded the previous day representing a gain of N70 for the local currency.

The euro also crashed against the Euro to trade at ₦1,330/€1 as against the previous closing price of ₦1,360/€1.