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Naira looses N63.37 against dollar

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The Naira on Wednesday depreciated at the official market, trading at N1,625.13 to the dollar.

Data from the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N63.37.

This represents a 4.05 per cent loss when compared to the previous trading date on Tuesday when it exchanged at N1,561.76 to a dollar.

Also, the total daily turnover reduced to 170.6 million dollars on Wednesday down from 253.68 million dollars recorded on Tuesday.

At the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,652 and N1,560 against the dollar.

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.

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