Market News
Naira slips at official market - PREMIUM TIMES
Naira closed Monday at N1,548.89 as against N1,543.03/$1 recorded at the official market in the previous segment last Friday
Naira depreciated slightly against the United States dollar at the authorised forex market on Monday, market data published by FMDQ showed.
According to the data, the naira closed Monday at N1,548.89/$1 against N1,543.03/$1 posted in the previous segment last Friday.
The domestic currency opened the market at N1540.50/$1 before it eventually closed at N1,548.89 at the spot market on Monday.
Within the business period, Naira experienced an intraday high of N1,537.50 and a low of N1,550.13, as against N1,542.00 and N1547.50 ranges recorded in the previous session last Friday.
Similarly, the naira fell slightly at the unofficial market on Monday. According to the unofficial market data, the dollar was exchanged at N1,665.116 and above on Monday, as against N1,663.080 recorded in the segment on Sunday.
The official and unofficial market segments have been trading within the N1,500/N1,600 and above benchmarks in recent months. But there are speculations that the naira might experience stability amid measures to reposition the economy and boost Fx supply.
