BUSINESS

Naira depreciates by 4.41% against dollar at official market

Published

1 month ago

October 29, 2024

Grace Alegba

The Naira on Monday depreciated at the official market, trading at N1670.65 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N70.65.

This represents a 4.41 per cent loss when compared to the previous trading date on Friday, Oct. 25, when it exchanged at N1,600 to a dollar.

Also, the total daily turnover reduced to 81.17 million dollars on Monday down from 284.93 million dollars recorded on Friday.

At the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,677 and N1,585.67 against the dollar.

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Grace Alegba

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