Naira further depreciates by 2.7% against dollar at official market

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 ₦44.32.

This represents a 2.71 per cent loss when compared to the previous trading date on Wednesday when it exchanged at ₦1,631.17 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 ₦1,677 and ₦1,610 against the dollar.