Naira begins week weak against US dollar

The Naira returned to depreciation against the dollar in the foreign exchange market to kick off the week.

FMDQ data showed that the Naira slightly weakened to N1,603.16 on Monday from N1,600.78 exchanged on Friday, recording a marginal N2.38 loss.

Similarly, at the parallel market, the Naira dropped to N1,730 per dollar on Monday from N1,725 traded last week Friday.

This comes as FX transaction turnover on Monday stood at $359.22 on Monday, a slight increase from $350.72 million on Friday.

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