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Naira falls to N890.54/$ at official market

by Chinwe Godbless
January 13, 2024
in Banking
0
Stakeholders complain as exchange rates slides to N590 to dollar
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The naira, on Friday, weakened against the dollar, at both the official and black markets.

Data from NAFEM, the official platform for forex trading, showed that the naira lost N15.75, indicating a depreciation compared to Thursday when it closed at N874.79.

READ ALSO

Yuan weakens to 7.1498 against dollar

Naira depreciates by 0.17% against dollar

The domestic currency depreciated 1.8 percent to close at N890.54/$1 to a dollar at the close of business on Friday.

Similarly, the naira depreciated at the parallel forex market (Black market) where forex is sold unofficially.

The exchange rate depreciated by 1.19 percent quoted at N1260/$1, while peer-to-peer traders quoted around N1268,05/$1.

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