Naira records marginal depreciation at official market

On Tuesday, the Nigerian currency, Naira, recorded a marginal depreciation of its value at the official market.

Data from FMDQ securities shows that the Naira closed at 441.67 to the dollar at the Investors and Exporters window.

This represents a depreciation of 0.07 per cent, compared with N441.38 to the dollar it exchanged on Monday.

During the trading day, participants paid as high as N447 for the dollar and a low of N423 before it settled at N441.67.

READ ALSO: Naira gains slightly, exchanges N441.38 to dollar

Meanwhile, a total of 79.41 million dollars was traded by participants.

At the black market, there was relative ease as traders confirmed the dollar now exchanged at N752 to a dollar compared to Monday’s rate of N760.

Naira rates, a bot that tracks street trading, showed that the British pound’s exchange rate was N880.594 and Euro at N764.866.

At the interbank market, banks that trade showed a dollar exchanged at N437.68.

While one British pound went for N495.14, the Euro traded for N431.68.