Naira Depreciates By 8.24% Against Dollar At Official Market

Naira Depreciates By 8.24% Against Dollar At Official Market …C0NTINUE READING HERE >>>

The Nigerian naira faced a significant depreciation in the official market on Wednesday, trading at ₦1,669.15 to the dollar.

Data from the FMDQ Exchange, which manages the Nigerian Autonomous Foreign Exchange Market, indicated that the naira lost ₦127.21, marking an 8.24 percent decline compared to the previous trading session on Monday, September 30, when it was valued at ₦1,541.94 to the dollar.

In addition to the naira’s depreciation, the total daily turnover in the foreign exchange market also saw a decrease, falling to $176.45 million on Wednesday from $181.86 million…

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