Naira depreciates by 4.41% against dollar at official market

The naira on Monday depreciated at the official market, trading at N1670.65 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market, NAFEM, revealed that the Naira lost N70.

65. This represents a 4.41 per cent loss when compared to the previous trading date on Friday, Oct.



25, when it exchanged at N1,600 to a dollar. Also, the total daily turnover reduced to 81.17 million dollars on Monday down from 284.

93 million dollars recorded on Friday. At the Investors and Exporter, I&E window, the naira traded between N1,677 and N1,585.67 against the dollar.

NAN.