Naira Improves to N891.90/$1 at Official Market…details

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Presently Naira has gained against the dollar on Friday, 26th January 2024 at the official market but closed flat at the black market.


It was gathered that the domestic currency appreciated 1.02% to close at N891.90 to a dollar at the close of business, data from the NAFEM where forex is officially traded, showed.



And this represents an N9.06 gain or a 1.02% increase in the local currency compared to the N900.96 closed on Thursday.

While the intraday high recorded was N1421/$1, while the intraday low was N700/$1, representing a wide spread of N721/$1.


According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $100.97 million, representing a 12.35% decrease compared to the previous day.


However, the naira closed flat at the parallel forex market where forex is sold unofficially, the exchange rate quoted at N1410/$1, the same as what it closed the previous day, while peer-to-peer traders quoted around N1422.98/$1.


(Naira Metrics)

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