Naira Weakens to N463.02 at the official Market.


May 11, 2023.

Azonuchechi Chukwu.

The Naira depreciated against the US Dollar in the Investors and Exporters (I&E) window of the foreign exchange market on Wednesday, May 10, trading at N463.02/$1.

According to data obtained from FMDQ Securities Exchange, this indicated that the local currency recorded a 77 kobo or 0.17 per cent loss as it was transacted on Tuesday at the spot market at N462.25/$1.

The turnover for the trading session was $178.68 million, 80.8 per cent or $79.84 million higher than the $98.84 million recorded in the preceding session.

Also, in the black market, the domestic currency depreciated against the Dollar in the midweek session by N2, closing at N741/$1, in contrast to the previous day’s N739/$1. (

Azonuchechi Chukwu
Azonuchechi Chukwu
Ms Azonuchechi Chukwu has a BSC holder in mass communication Ebonyi State University

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