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Naira crashes by N10.3 against Dollar, closes at N1,681/$ on Official Market

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2 months ago

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The naira depreciated by N10.3 against the U.S. dollar at the official window on Wednesday.

According to data from the FMDQ Exchange’s official trading platform, which oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), the local currency closed at N1,681/$, down from N1,671/$ on Tuesday.

This reflects a 0.61 percent loss compared to the previous day’s rate.

Additionally, total daily turnover decreased to $196.78 million on Wednesday, down from $218.77 million on Tuesday.

At the Investor and Exporter (I&E) window, the naira traded within a range of N1,690 to N1,620 against the dollar.

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