Again, Naira depreciates by 0.16% against dollar at official market

The naira on Friday recorded a loss at the official market, trading at N1,483.99 to the dollar.

Data from the official trading platform of the FMDQ Exchange, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the naira lost N2.50.

This represents a 0.16 per cent loss compared to the previous trading date on Thursday, trading at N1,481.49 to the dollar.

However, the volume of currency traded increased to $269.27 million on Friday, up from $213.31 million recorded on Thursday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between N1,507.00 and N1,399.00 against the dollar.

(NAN)