The Naira started the week with a slight slump against the Dollar at the official foreign exchange market on Monday, October 7, 2024.

The local currency traded at N1635.15/$1 at the official window according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

This indicated that the N1635.15/$1 was N3.93 lower than the N1631.21/$1 the currency traded at the official window on Friday, October 4, 2024.

The naira, also, lost N5 against the dollar at the parallel section of the forex market to trade at N1,675/$1 as against the previous day’s rate of N1,670/$1.

The naira closed flat against the British Pound to trade at N2,270/£1 same as the previous rate of N2,270£1.

The Canadian dollar still traded at N1,280| CA$1 same as the previous rate of N1,280| CA$1.

The naira also closed against the Euro to trade at ₦1,870/€1 same as the previous day’s rate of ₦1,870/€1.

By: Babajide Okeowo

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