Market News
Naira depreciates against USD - DAILY POST
The naira recorded a depreciation against the dollar at the official foreign exchange market on Wednesday.
The naira weakened on Wednesday to N1,328.50 per dollar from N1,327.78 exchanged on Tuesday.
This means that, on a day-to-day basis, the naira fell by N0.72 against the dollar at the official foreign exchange market.
Meanwhile, at the black market, the naira extended its appreciation to N1,385 per dollar from N1,389 per dollar the previous day.
The mixed movements across the official and parallel foreign exchange markets came as the country’s external reserves stood at $54.81 billion, according to data from the apex bank.
Recall that the naira appreciated against the dollar across the official and parallel foreign exchange markets on Tuesday.
