Naira slumps against dollar at official, black market on Friday

Naira slumps against dollar at official, black market on Friday …C0NTINUE READING HERE >>>

The naira slumped against the dollar on both official and parallel foreign exchange markets to end the week on a negative note.

FMDQ data showed that the depreciated to N1598.56 per dollar on Friday from N1593.93 exchanged on Thursday, losing N4.63.

Similarly, the naira recorded the worst fall in the black market, where it dropped by N25 from N1620 to N1645 per dollar on Friday.

This comes as foreign exchange transaction turnover increased to $172.80 million on Friday from $155.52 million…

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