Naira Depreciates Against Dollar At Official, Black FX Markets

The naira depreciated to N1675.49 and N1750 against the dollar at the official and parallel foreign exchange markets on Thursday.

This comes as FMDQ data showed that the weakened further to N1675.49 per dollar on Thursday from N1631.17 exchanged on Wednesday.

This means that it lost N44.32 against the dollar on Thursday compared to the N1631.17 exchange rate on Wednesday.

Meanwhile, at the black market, it remained flat at N1750 per dollar on Thursday, the same exchange rate traded on Wednesday.

The depreciation of Naira comes despite the foreign exchange transaction turnover increase to $166.61 million on Thursday from $128.98 million recorded the previous day.

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