Naira drops 5.3% against dollar at official market
The naira depreciated at the official market, trading at N1,300.15 in the dollar on Tuesday.
Data from the FMDQ Exchange’s official trading platform, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the naira lost N65.66.
This represents a 5.3 per cent loss compared to the previous trading date on Monday, April 22, when it exchanged at N1,234.49 to a dollar.
However, the total daily turnover increased to $133.65 million on Tuesday, which is up from the $110.17 million recorded on Monday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between N1,317.00 and N1,000.00 against the dollar.
(NAN)
