September 14, 2023.Thank you for reading this post, don't forget to subscribe!
The Naira weakened against the US Dollar in the Investors and Exporters (I&E), the black market, and the Peer-to-Peer (P2P) windows of the foreign exchange (forex) market on Wednesday, September 13.
In the I&E segment, the domestic currency reversed its fortune in the previous session on Tuesday and fell by 2.2 per cent or N16.02 to close at N758.12/$1 versus the previous day’s N742.10/$1, amid a jump of 25.1 per cent or $10.61 million in the value of FX trades in the official market.
Data from the FMDQ Securities Exchange showed that the turnover for the trading session was $52.87 million compared with the previous session’s $42.26 million.
In the parallel market, the Naira depreciated against the Dollar yesterday by N30 to trade at N950/$1, in contrast to Tuesday’s exchange rate of N930/$1.
Also, in the P2P segment, the local currency lost N2 against the American currency to finish at N954/$1 compared with the N952/$1 it was sold a day earlier.(www.naija247news.com).