$269.2m traded as Naira drops by 0.16% against dollar in official market

On Friday, the Naira experienced a slight depreciation in value at the official market, trading at N1,483.99 to the dollar.

This marks a N2.50 decline from Thursday’s rate of N1,481.49, representing a 0.16% loss.

According to data from the FMDQ Exchange, which manages the Nigerian Autonomous Foreign Exchange Market (NAFEM), the trading volume surged significantly.

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The volume of currency traded increased to $269.27 million on Friday, up from $213.31 million on Thursday.

In the Investor’s and Exporter’s (I&E) window, the Naira fluctuated between N1,507.00 and N1,399.00 against the dollar.