What Happened Yesterday To Naira At Forex Markets

What Happened Yesterday To Naira At Forex Markets

Naira fell significantly against the United States dollar on the Investors and Exporters (I&E) and parallel markets on Thursday, data and information gathered from both segments showed.

According to data published on the FMDQ website where forex is officially traded on Thursday, the local currency closed at N762.63 per $1 as against N742.31 it exchanged on Wednesday.

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Thursday rate implies a 2.74 per cent depreciation from N 742.31 it traded on Wednesday.

The domestic currency opened at N766.60 on Thursday, slipped to a low of N799.00 and ascended to a high of N691.00 within the business window before it finally closed at N762.63.

The official market segment on Thursday witnessed a foreign exchange supply of $98.60 million, the FMDQ data showed.

At the unofficial market segment, street traders exchanged with the dollar at N785.00 and sold at N790.00 per $1 as against N779 and N780 range traded on Wednesday.