Naira depreciates further against dollar at official market

On Monday, the naira depreciated at the official market, trading at N1,577.29 in the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N13.49.

This represents a 0.86 per cent loss when compared to the previous trading date on Friday when it exchanged at N1,563.80 to a dollar.

However, the total daily turnover increased to $153.53 million on Monday, up from $126.50 million recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between N1,590 and N1,470 against the dollar. 

(NAN)