Naira loses 5.3% against dollar at official market

The naira depreciated on Tuesday at the official market, trading at N1,300.15 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N65.66.

This represents a 5.3 percent loss when compared to the previous trading date on Monday, April 22, when it exchanged at N1,234.49 to a dollar.

However, the total daily turnover increased to 133.65 million dollars on Tuesday, up from 110.17 million dollars recorded on Monday.

Meanwhile, at the Investor’s and Exporter’s (I&E) window, the naira traded between N1,317.00 and N1,000.00 against the dollar.