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Naira depreciates against dollars at foreign market
On Monday, the naira depreciated against the dollar at the official foreign market, setting the tone for a poor start to the week.
According to FMDQ data, the value of the naira fell from N1570.14 on Friday to N1596.60 per dollar on Monday. This indicates a noteworthy N26.46 decline in value relative to the US dollar.
In a similar vein, the naira depreciated N5 vs the dollar, trading at N1, 620 on Monday as opposed to N1, 615 the previous week.
According to the FMDQ financial market data, the naira dropped N72.58 in value vs the dollar in July 2024, coinciding with the development.
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