Naira declines by 2.4% against US dollar

The Naira closed the week lower in the official foreign exchange market on Friday, trading at N1,678.87 per United States dollar.

According to the FMDQ Exchange, the Naira depreciated by N39.37 compared to Thursday’s rate of N1,639.50 to a dollar. This marks a 2.4% decline in value over the previous day’s trading.

Meanwhile, total daily turnover surged to $1,403.76 million on Friday, a significant increase from the $244.96 million recorded on Thursday.

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At the Investors and Exporters (I&E) window, the Naira traded within a range of N1,698.50 to N1,609.00 against the dollar.