Naira depreciates by 0.86% against dollar at official market

The Naira on Monday depreciated at the official market, trading at N1,577.29 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira lost N13.49.

This represents 0.86 per cent loss when compared to the previous trading date on Friday, July 12 when it exchanged at N1,563.80 to a dollar.

However, the total daily turnover increased to 153.53 million dollars on Monday, up from 126.50 million dollars recorded on Friday.

Meanwhile, at the Investor’s and Exporter’s (I&;E) window, the Naira traded between N1,590 and N1,470 against the dollar.