By Hosea Parah, Abuja
On Wednesday, the Naira depreciated in the official market, trading at N1,669.15 to the dollar. According to data from the FMDQ Exchange, which manages the Nigerian Autonomous Foreign Exchange Market (NAFEM), this marks a decline of N127.21, or 8.24%, compared to the previous trading day on September 30, when it was valued at N1,541.94 per dollar.
Daily turnover also decreased, falling to $176.45 million from $181.86 million recorded on Monday. In the Investor’s and Exporter’s (I&E) window, the Naira fluctuated between N1,699 and N1,550 against the dollar.