Naira depreciates by 0.8% against dollar at official market

Naira on Thursday slightly depreciated at the official market, trading at N1,402.67 to the dollar.

Data from the official trading platform of the FMDQ Exchange showed that the naira lost N11.71 against the dollar.

The FMDQ Exchange is a platform that oversees the Nigerian Autonomous Foreign Exchange Market.

The depreciation of the naira against the dollar represents a 0.84 percent loss when compared to the previous trading date on Tuesday when it exchanged at N1,390.96 to a dollar.

However, the total daily turnover increased to $232.84 million on Thursday, up from $225.36 million recorded on Tuesday.

Meanwhile, at the Investor’s and Exporter’s window, the naira traded between N1,445.00 and N1,299.42 against the dollar.