Naira on Monday resumed depreciation against the dollar, after exchanging steady for four trading days at the parallel market, popularly called black market.
After trading on Monday, one dollar was sold for N1,008 as against N1,000 on Wednesday last week. This represents a 0.8 percent fall against the dollar.
One trader said that there was a slight increase in the demand for dollars by individuals who want to travel either for business or tourism.
Some Nigerians travelled to Morocco for the annual meetings of the International Monetary Fund (IMF)/World Bank, as well as other meetings happening offshore.
At the Investor’ and Exporters’ (I&E) forex window, the naira strengthened by 4.30 percent as the dollar was quoted at N741.85 on Friday compared to N775.20 quoted on Thursday, data from the FMDQ showed.
We do everything possible to supply quality news and information to all our valuable readers day in, day out and we are committed to keep doing this.
Your kind donation will help our continuous research efforts.
-Advertisement-
-Want to get the news as it breaks?-
