Naira crashes again, trades at N1,459/$1 at official window
Thompson Nsisongabasi
May 10, 2024
Naira crashes again, trades at N1,459/$1 at official window
The Nigerian currency, the naira, continued its depreciation on Thursday May 9, 2024 to further slump to N1,459/$1 data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.
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At the end of trading on Thursday, the naira lost N38 against the dollar when compared to the previous exchange rate of N1,421/$1 on Tuesday, May 7, 2024.
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The intra-day high and low recorded during the day were N1,465/$1 and N1,351/$1 respectively, representing a lean spread of N114\$1.
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Similarly, the naira lost against the dollar at the parallel section of the market to trade at N1,455/$1 representing a loss of N5 when compared to the N1,450/$1 it traded the previous trading day.
Contrastingly, the naira gained N20 against the pound. The domestic currency appreciated by N20 against the British Pound to trade at N1,820\£1 as against the previous trading price of N1,840/£1 representing a gain of N20 for the local currency,
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The Canadian dollar however closed flat against the naira to trade at N1,000| CA$1 same as the previous trading day rate.
The naira appreciated against the Euro to trade at Ôéª1,525/Ôé¼1 as against the rate of Ôéª1,540/Ôé¼1 the previous trading rate this represents a gain of N15 in the local currency.
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— Thompson Nsisongabasi