Naira Strengthens Against Dollar Amidst Resistance Challenges
Saturday, 10 August 2024, 02:34
Naira's Recent Performance
The Naira has shown a low strength against the dollar, with a trading value of N1,585/$ on Friday, improving from N1,590/$ the previous day in the parallel market.
Resistance Levels
Despite this improvement, the Naira faces a high challenge at the N1,500 resistance line, which could impact its future trajectory.
- Current trading rate: N1,585/$
- Previous rate: N1,590/$
- Resistance line to monitor: N1,500
Market analysts are vigilant as the Nigerian currency navigates through economic fluctuations and evolving market dynamics.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.