Wazobia Reporters – we cover the nation | news | entertainment | education | foreign | business | sports

Naira trades N1,523/$ at official market

The naira, on Monday, July 8, 2024, depreciated at the official market trading at N1,523.85 to the dollar.

At the official market, the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira depreciated from the previous close of N1,509.67 to the dollar.

NAFEM is the market trading segment for Investors, Exporters, and End-users that allows for forex trades to be made at exchange rates determined by prevailing market conditions.

The naira traded at an intra-day high of N1,540.75 and a low of N1,474.05 to a dollar.

The turnover stood at $133.46 million higher than $116.88 million on Friday, indicating improved liquidity in the market.

On the parallel market, the naira also depreciated by 0.33 per cent, ending the day at N1,528 to the dollar compared to N1,523 per dollar on Friday.

Leave A Reply

Your email address will not be published.