BUSINESS

Naira depreciates by 0.86% against dollar at official market

Published

4 months ago

July 16, 2024

Grace Alegba

The Naira on Monday depreciated at the official market, trading at N1,577.29 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 N13.49.

This represents 0.86 per cent loss when compared to the previous trading date on Friday, July 12 when it exchanged at N1,563.80 to a dollar.

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

Related Topics:

Up Next

Embrace nationalism against ethnicity, dogma – Air peace boss

Don't Miss

Equity market opens with N167bn profit gain

Grace Alegba

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.