August 6, 2024.
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The Naira appreciated against the US Dollar by 0.61 per cent or N9.93 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, August 5, selling at N1,607.15/$1 compared with last Friday’s closing price of N1,617.08/$1, according to data obtained from the FMDQ Securities Exchange.
This happened despite low forex supply in the market, evidenced by a turnover of $77.09 million during the trading session, 41.4 per cent or $54.46 million lower than the $131.55 million recorded in the preceding trading day.
However at the black market, the Nigerian Naira maintained stability against the greenback during the trading day at N1,605/$1.
The local currency depreciated against the Pound Sterling yesterday by N24.84 to sell for N2,076.34/£1, in contrast to last Friday’s closing value of N2,051.50/£1 and weakened against the Euro by N34.26 to quote at N1,764.15/€1 compared with the preceding session’s N1,729.89/€1.(www.naija247news.com).