The naira slumped again against the American dollar on Wednesday.
Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the local currency shed N4 to trade N1, 586/$1, up from N1, 582/$1 it traded on Tuesday.
The intra-day high and low recorded during the day were N1, 595/$1 and N1, 495/$1 respectively, representing a lean spread of N100$1.
However, the naira lost N2 against the dollar at the parallel section of the forex market to trade N1,600/$1 as against the N1,598/$1 it traded the previous day.
The naira however gained N5 against the British Pound to trade N2,065£1 as against the previous N2,070£1.
The Canadian dollar continues to close flat against the naira to trade N1,200| CA$1.
The naira also lost N5 against the Euro to trade ₦1,720/€1 as against the previous ₦1,715/€1.
By: Babajide Okeowo
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