Naira Depreciation
- Naira depreciated to N1,687.52 against the dollar (official market)
- Lost N8.59 (0.51% decline) compared to previous day
- Total daily turnover increased to $173.29 million
I&E Window
- Naira traded between N1,705 and N1,601.50 against the dollar
- Fluctuation in exchange rate
Market Performance
- Increase in daily turnover (up from $128.59 million)
- Depreciation in Naira value.
The Naira experienced a decline in value on Wednesday at the official market, trading at N1,687.52 against the US dollar. This represents a N8.59 drop, or a 0.51% loss, compared to Tuesday’s exchange rate of N1,678.93.
Despite the depreciation, the total daily turnover saw a significant increase to $173.29 million, up from $128.59 million on Tuesday.
At the Investor’s and Exporter’s (I&E) window, the Naira fluctuated between N1,705 and N1,601.50 against the dollar.
Key market indicators:
- Exchange rate: N1,687.52 (official market)
- Loss: N8.59 (0.51% decline)
- Total daily turnover: $173.29 million (up from $128.59 million)
- I&E window range: N1,705 – N1,601.50.
