Again, Naira Slumps Against Dollar

The naira returned to depreciation against the dollar at the foreign exchange market barely 24-hours after respite.

FMDQ data showed that the naira appreciated to N1650.20 per dollar on Thursday from N1645.45 exchanged on Wednesday.

At the black market, the naira traded between N1738 and N1745 to the dollar on Thursday.

This comes as FX transaction turnover dropped to $214.73 million on Thursday from $236.84 million recorded the previous day.

EKO HOT BLOG reports that the Naira gained for the first this week on Wednesday to close at N1645.45 per dollar at the official FX market.

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