Again, Naira depreciates further against dollar

The naira further depreciated against the dollar at both official and parallel foreign exchange markets. ..Read Full Article

FMDQ data showed that the naira slightly weakened to N1,485.36 against the dollar on Thursday from N1,483.02 on Wednesday.

This represents an N2.34 loss against the dollar compared to the N1,483.02 traded on the previous day.
The naira further depreciated against the dollar at both official and parallel foreign exchange markets.

FMDQ data showed that the naira slightly weakened to N1,485.36 against the dollar on Thursday from N1,483.02 on Wednesday.

This represents an N2.34 loss against the dollar compared to the N1,483.02 traded on the previous day.

Similarly, the naira depreciated to N1,490 against the dollar on Thursday from N1,470 traded on Wednesday at the parallel market.

The development comes despite the turnover of FX transactions at the FMDQ market increased to $176.20 million on Thursday from $150.73 million the previous day.

The naira earlier recorded a marginal loss against the dollar on Wednesday.