Naira Depreciates By 4.41% Against Dollar At Official Market

On Monday, the naira depreciated in the official market, trading at N1,670.65 to the dollar.

Data from the FMDQ Exchange, which manages the Nigerian Autonomous Foreign Exchange Market (NAFEM), indicated that the naira lost N70.65, marking a 4.41% decline compared to the previous trading day on Friday, October 25, when it was valued at N1,600 to the dollar.

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Additionally, total daily turnover dropped to $81.17 million on Monday, down from $284.93 million on Friday.

In the Investors and Exporters (I&E) window, the naira fluctuated between N1,677 and N1,585.67 against the dollar.

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