The Naira slumped massively against the American dollar at the official foreign exchange market on Monday, October 28, 2024, to begin the week on a negative note.
The local currency traded at N1,670.65/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
This indicated that the N1,670.65/$1 was N70.65 higher than the N1,600.00/$1 that the currency traded at the official window last week.
READ ALSO: Naira begins recovery, gains N52 to trade at N1,601/$1 at official window
The naira lost N6 against the dollar at the parallel section of the forex market to trade at N1, 746/$1 as against the previous day’s rate of N1, 740/$1.
The naira also lost N10 against the British Pound to trade at N2,260/£1 as against the previous rate of N2,250£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.
The naira lost N8 against the Euro to trade at ₦1,868/€1 as against the previous day’s rate of ₦1,860/€1.
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