Naira depreciates against dollar amid FX supply drop …C0NTINUE READING HERE >>>
The naira depreciated against the dollar at the foreign exchange market to begin the week as FX supply dropped further.
FMDQ data showed that the naira slightly weakened at N1635.15 per dollar on Monday compared to N1631.21 exchanged on Friday last week.
This represents a marginal N3.94 depreciation against the dollar.
Similarly, at the black market, the naira depreciated to N1775 per dollar on Monday from the N1770 exchange rate at the close of last week.
This development comes as Foreign Exchange daily transaction turnover further slumped to $126.24 million on Monday from $238.36…
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