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Naira Gains At Official Window To N1,595/$1, Depreciates At Parallel To N1,550/$1

The Naira on Thursday recorded gain for two consecutive days at the official window but depreciated marginally at the parallel market.

It depreciated to N1,550 from N1,500 it exchanged on Wednesday representing N50 decline in one day.

However, the official Nigerian Autonomous Foreign Exchange (NAFEM) appreciated, closing at N1,595.11 signifying a N14.4 gain compared to N1,609.51 it closed on Wednesday.

Notably, the daily turnover recorded on Thursday was $217.14 indicating an 82.28 percent decline from $119.14 million, quoted on Wednesday.

Also, the highest spot rate on Thursday was pegged at N1660, while the lowest spot rate recorded was N1,448.

Nume Ekeghe

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