Naira depreciates by 0.6% against dollar

The naira depreciated on Wednesday at the official market, trading N1,681.65 to the dollar.

Data from the FMDQ Exchange’s official trading platform, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that naira lost N10.33.

This represents a 0.61 per cent loss compared to the previous trading date on Tuesday when it exchanged at N1,671.32 to a dollar.

Also, the daily turnover reduced to $196.78 million on Wednesday, down from $218.77 million recorded on Tuesday.

At the Investor’s and Exporter’s (I&E) window, the naira traded between N1,690.00 and N1,620.00 against the dollar.

(NAN)