Naira Depreciates by 4.41% Against Dollar at Official Market

• Agency Report

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. NAN