Naira Sheds N10 To Trade N1, 676/$1 At Official Window

The Naira depreciated in its value against the American dollar at the official foreign exchange market on Monday, November 4, 2024.

The local currency traded at N1,676.90/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This indicated that the N1,676.90/$1 was N10.18 lower than the N1,666.72/$1 that the currency traded at the official window the previous day.

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Similarly, the naira gained N5 against the dollar at the parallel section of the forex market to trade at N1, 730/$1 as against the previous day’s rate of N1, 735/$1.

The naira also gained N15 against the British Pound to trade at N2,260/£1 as against the previous rate of N2,275\£1.

After several weeks of closing flat, the Canadian dollar still maintains N1, 300/CA$1 the same as the previous rate of N1, 300/CA$1.

Similarly, the naira closed flat against the Euro to trade at ₦1,865/€1 same as the previous day’s rate of ₦1,865/€1.