Business

Naira drops against dollar at official market

The naira, on Friday, July 19, 2024, depreciated at the official market, trading at N1,596.92 to the dollar.

Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the naira lost N30.10.

This represents a 1.92 per cent loss when compared to the previous trading date on Thursday, July 18, when it exchanged at N1,566.82 to a dollar.

Also, the total daily turnover reduced to $250.67 million on Friday, down from $273.14 million recorded on Thursday.

Meanwhile, at the Investors and Exporters (I&E) window, the naira traded between N1,619 and N1,495 against the dollar.

The Star

Segun Ojo

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