August 30, 2023.Thank you for reading this post, don't forget to subscribe!
Nigerian Naira further depreciated on the US Dollar at the Investors and Exporters (I&E) window of the foreign exchange (forex) market but gained in the black market segments on Tuesday, August 29.
At the official market, the local currency fell by 0.42 per cent or N3.22 against the American Dollar to settle at N775.34/$1, in contrast to the previous day’s N772.12/$1, as the demand for FX further rises.
Data from the FMDQ Securities Exchange showed that the turnover for the trading session increased by 77.4 per cent or $31.11 million to $71.32 million from the $40.21 million reported on Monday.
Also, in the parallel market, the Nigerian currency improved its value against the American currency on Tuesday by N10 to trade at N905/$1 versus the previous day’s N915/$1.(www.naija247news.com).