The Naira has recorded its biggest gain in a couple of weeks against the American dollar to trade at N1, 339/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
At the end of trading on Monday, the Naira gained N143 against the dollar compared to the previous exchange rate of N1,482/$1 on Friday, May 24, 2024.
The intra-day high and low recorded during the day were N1,501/$1 and N1,310/$1 respectively, representing a lean spread of N191/$1.
However, the Naira slumped against the dollar at the parallel section of the market, to trade at N1,520/$1 representing a loss of N10 compared to the N1,510/$1 it traded the previous trading day
Similarly, the Naira slumped against the British Pound to trade at N1,920/£1 as against the previous trading price of N1,900/£1 representing a loss of N20 for the local currency,
The Canadian dollar closed flat against the Naira to trade at N1,200/CA$1, same as the previous trading day rate of N1,200/CA$1.
The Naira also slumped against the Euro to trade at N1,600/€1 as against the rate of N1,580/€1 the previous trading rate, representing a loss of N20 in the local currency.
