Naira further loses value against dollar

On Monday, the naira depreciated at the official market, trading at N1,690.37 against the dollar.

This represents a 2.3 per cent loss compared to the November 15 trading date when it exchanged at N1,652.25 a dollar.

Also, the daily turnover was reduced to $173.14 million on Monday, down from $296.63 million recorded on Friday.

At the Investor’s and Exporter’s (I&E) window, the naira traded between N1,699.00 and N1,633.52 against the dollar.

On Friday, the naira slightly depreciated at the official market, trading at N1,652.25 against the dollar. Data from the official trading platform of the FMDQ Exchange revealed that the naira lost N2.05.

This represents a 0.12 per cent loss compared to Thursday’s trading, when it exchanged at N1,650.20 to a dollar. However, the daily turnover increased to $296.63 million on Friday, up from the $214.73 million recorded on Thursday.

At the Investor’s and Exporter’s (I&E) window, the naira traded between N1,699.00 and N1,620.00 against the dollar.

(NAN)