Naira Holds Firm At N1483 In Official Currency Exchange On Monday

June 11, 2024

According to FMDQ Securities Exchange Limited, the Nigerian currency – the Naira, was stable at ₦1,483.62/$ on Monday at the Nigerian Autonomous Foreign Exchange Market.

The official rate increased slightly from the ₦1,483.99 quoted on Friday, June 7, by 0.02 percent.

The Naira demonstrated its volatility throughout the day, with its value fluctuating between a high of ₦1,507 for the United States dollar and a low of ₦1,399 per USD, providing a comprehensive view of the currency’s performance.

The currency continued to strengthen on the black market, sometimes called the parallel market, where dealers quoted ₦1,490 to ₦1,495/USD.

The value of the Naira appreciated by 0.13 percent last week, outperforming the ₦1,485.99 posted in the official market on Friday, May 31, 2024.

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