Naira depreciates by 8.24% against dollar at official market

Naira depreciates by 8.24% against dollar at official market. 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 ₦127.21.

This represents an 8.24 per cent loss when compared to the previous trading date on Monday, Sept. 30 when it exchanged at ₦1,541.94 to a dollar.

Also, the total daily turnover reduced to 176.45 million dollars on Wednesday down from 181.86 million dollars recorded on Monday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between ₦1,699 and ₦1,550 against the dollar.