Ejes Gist News reports that the value of the Nigerian currency depreciated against the U.S dollar after Thursday’s trading activities in the Investors and Exporters (I & E) segment of the foreign exchange (forex) market, when compared to Wednesday’s trading.
Naira Crashes Further Against the US Dollar in Official Market
Ejes Gist News published that the Naira was sold yesterday at ₦413.89/$1 in the official window where Naira and dollars are traded.
According to FMDQ data, the total value of transactions for the trading session was $73.11 million, down from $99.14 million the previous session.
The Nigerian currency, on the other hand, did not move against the US dollar in the interbank market yesterday, closing flat at N414.29/$1.
At the same time, the Naira’s exchange rate versus the Pound Sterling and the Euro stayed constant at N553.02/£1 and N474.38/€1, respectively.
According to dealers in Okota, Lagos, who talked to Newsmen, the Naira sold for N565 to a US dollar on the illicit market.
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