Naira falls at official market again

By Abiodun OBA

Nigerian currency Naira on Tuesday depreciated again at the official market, trading at N1,300.15 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 N65.66.

This represents a 5.3 per cent loss when compared to the previous trading date on Monday, April 22, when it exchanged at N1,234.49 to a dollar.

However, the total daily turnover increased to 133.65 million dollars on Tuesday up from 110.17 million dollars recorded on Monday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,317.00 and N1,000.00 against the dollar.

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