Home Money Matters Naira slumps by 4.6% against dollar at official market

Naira slumps by 4.6% against dollar at official market

by newshubmag

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.

Naira appreciates against dollar

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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