Naira Depreciates Against Dollar at Official Market

The naira lost at the official market on Monday, trading at N1,676.90 to the dollar.

According to data from FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market, the naira lost N10.18.

The dip on Monday represents a 0.61% loss compared to when it exchanged at N1,666.72 to a dollar on Friday, November 1.

Also, data revealed that the total daily turnover fell to $79.47 million on Monday, down from $94.20 million recorded on Friday.

The naira also traded between N1,690.00 and N1,591.60 against the dollar at the Investor’s and Exporter’s (I&E) window.