Naira further depreciates by 2.7% against dollar at official market

The Naira on Thursday further slumped at the official market, trading at N1,675.49 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the local currency lost N44.32.

This represents a 2.71 per cent loss when compared to the previous trading date on Wednesday, when it exchanged at N1,631.17 to a dollar.

However, the total daily turnover increased to 166.61 million dollars on Thursday up from 128.98 million dollars recorded on Wednesday.

At the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,677 and N1,610 against the dollar. (NAN)