The Nigerian currency, the naira, started the week on a low by shedding N26 against the American dollar on Monday, August 26, 2024.
The domestic currency trade at N1,596/$1, data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) has shown.
This is against the rate of N1,570/$1 it traded on Friday August 23, 2024.
The intra-day high and low recorded during the day were N1,610/$1 and N1,500/$1 respectively, representing a lean spread of N110\$1.
The naira shed N5 against the dollar at the parallel section of the FX market to trade at N1,620/$1, as against the previous rate of N1,615/$1.
The naira also lost N10 against the British Pound to trade at N2,090\£1 as against the previous trading day’s rate of N2,080\£1.
After several weeks of trading steady at N1,200| CA$1, the Canadian dollar appreciated against the naira to trade at N1,250| CA$1 representing a loss of N50 for the local currency.
The naira lost N15 against the Euro to trade at ₦1,785/€1 as against the previous trading day’s rate of ₦1,770/€1.