October 6, 2023.
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Naira in the different segments of the foreign exchange (forex) market on Thursday depreciated against the United States Dollar.
The Nigerian currency weakened in the Investors and Exporters (I&E) and the black market windows.
In the official market, it shrank against the greenback yesterday by 2.5 per cent or N18.99 to sell at N775.20/$1 compared with the preceding day’s N756.21/$1, according to data obtained from the FMDQ Securities Exchange.
This happened as the value of FX transactions increased by $1.46 million or 1.5 per cent to $94.24 million from the $95.70 million achieved on Wednesday.
In the same vein, the local currency lost N4 against the US Dollar on Thursday to trade at N1,005/$1, in contrast to the previous day’s rate of N1,001/$1 at the black market (www.naija247news.com).
