Naira slides at official market | Premium Times Nigeria

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Naira slides at official market

The naira weakened slightly against the U.S. dollar at the I&E window of the foreign exchange market on Tuesday, data posted on theThe domestic unit closed at N411.00 at the trading session of the NAFEX window on Tuesday.According to data posted, the local unit performance represents a N1.00 or 0.24 per cent devaluation from N410.00 the rate it traded in the previous session on Friday, last week.

The currency experienced an intraday high of N395.00 and a low of N422.00 before closing at N411.00 on Tuesday. The forex turnover on Tuesday depreciated by 25.03 per cent, with $42.59 million recorded as against the $56.81 million posted in the previous session on Friday last week.However, the naira remained stable at the parallel market.It remained unchanged against the U.S. dollar at the unofficial market on Tuesday, data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed.

 

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