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The Nigerian currency recorded mixed performance for the dollar in the foreign exchange marketAgainst the dollar, the naira appreciated in the official market but fell in the unofficial marketsThere were also exchange rate changes against the British pound and the euro
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Naira further gained against the US Dollar by N5.74 or 0.42% in the Nigerian Foreign Exchange Market (NAFEM) on Tuesday, June 2nd, to trade at N1,361.05/ $1, down from Monday’s rate of N1,366.95/ $1.
Also in the official market, the currency strengthened by 9kobo against the Pound Sterling, closing at N1,833.19/1, compared to N1,833.28/1 on Monday, and by N2.73 against the Euro to settle at N1,584.39/1, up from N1,587.12/1 recorded in the previous session.
Dollar demand pushes naira lower in parallel market trading Photo: BloombergSource: Facebook
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