Naira’s woes continue, depreciates against US dollar in official market

The Nigerian currency, Naira, continued its poor performance on Thursday as it experienced a slight decline in value, trading at N1,650.20 per dollar in the official market.

According to data from FMDQ Exchange’s official trading platform, the currency weakened by N4.8, representing a 0.29 percent drop compared to Wednesday’s rate of N1,645.40 to the dollar.

Additionally, daily turnover at the official window decreased, with Thursday’s volume recorded at 214.73 million dollars, down from 236.84 million dollars on Wednesday.

At the Investors and Exporters (I&E) window, the Naira fluctuated, trading between N1,698.25 and N1,633 to the dollar.