Naira loses value, trades at N1,544.02/$1 in official window

The Naira, on Thursday, depreciated marginally against the US dollar at the close of trading in the foreign exchange market.

Data from the FMDQ showed that the Naira weakened marginally to N1,544.02  against the dollar on Thursday, from N1,539.65 exchanged on Wednesday.

This represents a slight 4.37 depreciation against the dollar, compared to the N1,539.65 exchange rate on Wednesday.

That was 24 hours after the Naira recorded N116.91 appreciation on Wednesday.

Further analysis showed that Naira stood strong compared to the N1,656.56 per dollar exchange rate at the beginning of trading on Tuesday in the official market.

Meanwhile, the Naira lost N5 to close at N1,665 per dollar in the black market on Thursday from N1,660 recorded the previous day.

Reports said the Naira has continued to fluctuate against the dollar and other currencies.

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