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Saturday, November 2, 2024

Naira declines by 6.8% against Dollar in official market 

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The naira experienced a significant drop on Tuesday, depreciating to N1,658.97 against the U.S. dollar in the official market.

According to data from the FMDQ Exchange, the naira lost N106.05 in value, marking a 6.82% decline compared to Monday’s rate of N1,552.92 per dollar.

Additionally, daily trading turnover decreased to $217.86 million on Tuesday, down from the $343.71 million recorded the previous day.

In the Investors and Exporters (I&E) window, the naira traded within a range of N1,670.50 and N1,556.29 against the dollar.

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