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08:17, 15th Mar, 2024 by

Naira Declines At Parallel Market, Appreciates At Official Window As Rates Converge 

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The Naira declined from N1,600/$1 to N1,605/$1 at the parallel market, appreciated to N1,608.98 from N1, 615.94 at the official window.

The naira on Thursday made a U-turn as it marginally declined at the parallel to N1,605/$1 from N1,600/$1 it exchanged on Wednesday.

However, the official Nigerian Autonomous Foreign Exchange (NAFEM) recorded a gain, closing at N1,608.98 signifying a N6.96 gain compared to N1, 615.94 it closed on Wednesday.

Notably, the daily turnover recorded on Thursday was$243.65 million indicating a 2.05 percent decline from $248.75 million, quoted on Wednesday.

Also, the highest spot rate on Thursday was pegged at N1625, while the lowest spot rate recorded was N1,576.

 Nume Ekeghe

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