Naira gains N5 trades N1,505/$1 at official window

The naira earned its first gain in more than 10 days against the United States dollar on Friday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the Nigerian currency gained N5 to trade at N1,505/$1 at the official market today.

The currency traded at N1,510/$1 on Thursday.

The intra-day high and low recorded during the day were N1,540/$1 and N1,430/$1 respectively, representing a lean spread of N110\$1.

However, the naira gained against the dollar at the parallel section of the market to trade at N1,525/$1, as against N1,520/$1 it traded the previous day.

The naira also shed N20 against the British Pound to trade at N1,920\£1 as against the previous trading day’s N1,900\£1.

The Canadian dollar continues to close flat against the naira to trade at N1,200| CA$1.

The naira lost N10 against the Euro to trade at N1,600/€1 as against the previous N1,590/€1