Market News
Naira Eases To N1,562.66/$1 On Official Market - NEW TELEGRAPH
The naira weakened on the official market on Monday, dropping to N1,562.66/$1 compared to N1,541.52/$1 on Friday, data from FMDQ shows.
The local currency also weakened on the parallel market yesterday, as it fell N1,665 per dollar compared to N1,660 per dollar last Friday.
The naira has been under pressure on the foreign exchange markets in recent days as a result of increased demand for dollars.
New Telegraph reports that in its bid to ensure exchange rate stability, the apex bank significantly increased its interventions in the official market between July and August.
