After Falling Low, Naira Bounces Back, Appreciates by 2.63%

After three consecutive days of losses, the value of the naira has appreciated against the United States dollar in the official Nigerian Autonomous Foreign Exchange Market (NAFEM). According to data from FMDQ Securities, the naira closed at N1,645.40 against the dollar on Wednesday, November 13, 2024.
Wednesday’s exchange rate represents N44.48 or 2.63% gain compared to Tuesday’s previous trading date when it exchanged at N1,689.88 to a dollar.
However, the naira had a different outcome from the pound sterling and the euro in the official market. Data from the CBN showed that the naira improved against the pound sterling in the official market on Wednesday to N2,108.2/£1 from Tuesday’s rate of N2,164.74/£1. Similarly, the naira appreciated against the euro to N1,757.2//€1, up from N1,793.43/€1 the previous day.

source: legit.ng

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