• Monday, June 17, 2024
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BusinessDay

Naira steadies at N1,483/$ at official market

Naira falls, external reserves dip despite FX reforms

The naira on Monday steadied at N1,483.62/$ at the Nigerian Autonomous Foreign Exchange Market, according to FMDQ Securities Exchange Limited.

The official rate strengthened marginally by 0.02 percent from the N1,483.99 quoted on Friday, June 7.

During the day, the naira traded at a high of N1,507 per dollar, while it traded for as low as N1,399 per dollar.

On the black market, also known as the parallel market, the naira also steadied as traders quoted N1,490 to N1,495/$ today.

Last week, the naira value improved by 0.13 percent, stronger than the N1,485.99 quoted last week Friday, May 31, 2024, at the official market.