Market News
Naira depreciates marginally against dollar - DAILY POST
By
The Naira depreciated marginally against the dollar on Monday at the foreign exchange market to resume the week on a negative note.
FMDQ data showed that the Naira closed at N1536.58 per dollar on Monday from N1,534.56 exchanged on the basis of the Central Bank of Nigeria on FX data last week end of trade. This means that the Naira weakened slightly by N2.2 against the dollar when compared to the N1,534.56 exchanged on Friday last week.
Meanwhile, in the black market, the Naira remained between N1,662 and N1,665 on Monday, the same as last Friday.
“We sell between N1662 or N1665 per dollar on Monday, the same rate we exchanged last week,” Bureau De Operator in Wuse Zone 4, Alhasan Baggazin, told DAILY POST.
DAILY POST reports that since this new year began, the Naira had sustained positive momentum against the dollar until Monday.
