Naira slumps against dollar by 0.7%

On Thursday, the Naira traded at N1,309.39 to the dollar on the official market, slightly weaker than it was on Wednesday.

The Naira depreciated N8.96, or 0.69 percent, against the dollar, according to data from the FMDQ’s official trading portal. The previous day’s rate was N1,300.43.

Nonetheless, the overall turnover rose from $416.10 million on Wednesday to $857.78 million on Thursday.

In the meantime, the Naira fluctuated in value versus the dollar at the Investors and Exporters (I&E) market, moving between N1,392 and N1,250.

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