The naira slumped further against the American dollar at the official window on Thursday.

Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency shed N14 to trade N1, 639/$1, up from N1, 625/$1 the currency traded at the official window the previous day.

The intra-day high and low recorded during the day were N1, 650/$1 and N1, 410/$1 respectively, representing a wide spread of N240$1.

The naira shed N15 against the dollar at the parallel section of the forex market to trade N1,660/$1 as against the previous N1,645/$1.

The naira also shed N20 against the British Pound to trade N2,180/£1 as against the previous N2,160£1.

The Canadian dollar closed flat against the naira to trade N1,250| CA$1.

The naira, however, gained N20 against the Euro to trade ₦1,780/€1 as against the previous day’s ₦1,800/€1.

By: Babajide Okeowo

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