ECONOMY

Naira slides by 4.6% against dollar at official market

Published

6 months ago

May 8, 2024

Grace Alegba

The Naira on Tuesday depreciated at the official market, trading at N1,416.57 to 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 N62.36.

This represents a 4.60 per cent loss when compared to the previous trading date on Monday when it exchanged at N1,354.21 to a dollar.

However, the total daily turnover increased to 160.77 on Tuesday, up from 84.83 million dollars recorded on Monday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,445 and N1,301 against the dollar.

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Grace Alegba

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