The naira recorded marginal movements across key currency pairs on Tuesday with the official NAFEM window closing at N1,371/$ down from ₦1,370 on July 3 a 0.07% decline of ₦1.00.
The parallel market rate stood at ₦1,400 per $1 on July 7, up from ₦1,402.50 the previous day. This represents a 0.18% appreciation (a ₦2.50 gain for the naira).
The naira also strengthened against the Euro in the parallel market, trading at ₦1,580 per €1, up from ₦1,585 the day before — a 0.32% improvement worth ₦5. The Naira to British pound and Canadian dollar rate remained stable, holding at ₦1,860/£1 and ₦1,055/$1 respectively.
Nigeria’s external reserves rose marginally to $51.526 billion as of July 3, compared to $51.459 billion at the end of June.
