Newscenter Media News The naira recovered from its recent slump against the United States dollar on Friday to close the week on a positive note.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the domestic currency gained N11 to trade N1, 509/$1 at the official window.
The figure was lower than N1,520/$1 the naira traded on Thursday.
The intra-day high and low recorded during the day were N1,535/$1 and N1,450/$1 respectively, representing a very lean spread of N85$1.
The naira closed flat against the dollar at the parallel section of the market to trade at N1,525/$1.
The naira shed N5 against the British Pound to trade N1,925£1 as against the previous N1,920£1.
The Canadian dollar continues to close flat against the naira to trade at N1,200| CA$1.
The naira shed N10 against the Euro to trade at ₦1,620/€1 as against the previous ₦1,610/€1.
By: Babajide Okeowo
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