Official Market: Naira depreciates against Dollar

The Naira depreciated at the official market on Monday, trading at N1,676.90 to the Dollar.

Data from the official trading platform of the FMDQ Exchange, a platform overseeing the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that Naira lost N10.18.

This represents a 0.61 per cent loss when compared to the previous trading on Friday, Nov. 1, when it exchanged at N1,666.72 to a Dollar.

Also, the total daily turnover reduced to 79.47 million dollars on Monday, down from 94.20 million Dollars recorded on Friday.

At the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,690.00 and N1,591.60 against the Dollar.