The Naira depreciated in its value against the American dollar at the official foreign exchange market on Monday, November 4, 2024.
The local currency traded at N1,676.90/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).
This indicated that the N1,676.90/$1 was N10.18 higher than the N1,666.72/$1 that the currency traded at the official window the previous day.
Similarly, the naira gained N5 against the dollar at the parallel section of the forex market to trade at N1, 730/$1 as against the previous day’s rate of N1, 735/$1.
READ ALSO: Naira appreciates, gains N8 to trade N1,666/$1 at official window
The naira also gained N15 against the British Pound to trade at N2,260/£1 as against the previous rate of N2,275£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.
Similarly, the naira closed flat against the Euro to trade at ₦1,865/€1 same as the previous day’s rate of ₦1,865/€1.
By: Babajide Okeowo
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