Naira slumps to N1,523/$1 at official window

RIPPLES NIGERIA

The naira continued its slump against the United States dollar on Tuesday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency shed N9 to trade at N1,532/$1 at the official window today.

This was higher than the N1,523/$1 it traded on Monday.

The intra-day high and low recorded during the day were N1, 555/$1 and N1, 465/$1 respectively, representing a very lean spread of N90\$1.

The naira lost N10 against the dollar at the parallel section of the market to trade at N1, 540$1, as against the N1, 530/$1 it traded the previous day.

The naira hit the N2,000 mark as it shed N50 against the British Pound to trade at N2,000\£1 as against the previous N1,950\£1.

The Canadian dollar continues to close flat against the naira to trade at N1,200.

The naira shed N10 against the Euro to trade at ₦1,650/€1 as against the previous ₦1,640/€1.

THIS ARTICLE ORIGINALLY APPEARED IN RIPPLES NIGERIA