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The naira depreciated against the dollar at the foreign exchange market to resume trading after the June 12 Democracy Day celebration as FX turnover transactions crashed to $92.68 million.<\/p>\n

FMDQ data showed that the naira depreciated marginally to N 1476.24 against the dollar on Thursday from N 1473.66 on Tuesday.<\/p>\n

This represents an N2.58 loss against the dollar compared to N1473.66 traded on Tuesday.<\/p>\n

Similarly, the parallel market depreciated to N1490 against the dollar on Thursday from N1470 traded on Tuesday.<\/p>\n

The development comes as the turnover of foreign exchange transactions crashed to $92.68 million on Thursday from $385.91 million.<\/p>\n

Recall that the naira appreciated for the second consecutive time against the dollar on Tuesday.<\/p>\n

Nigeria\u2019s foreign exchange market has been experiencing fluctuations since mid-April 2024, despite the Central Bank of Nigeria\u2019s policy intervention.<\/p>\n

Naira depreciates against dollar as FX supply drops<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The naira depreciated against the dollar at the foreign exchange market to resume trading after the June 12 Democracy Day…<\/p>\n","protected":false},"author":1,"featured_media":37147,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,938,939,15],"tags":[890,519,16238,948,17171,943,180,3879],"class_list":["post-37146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-dollar","category-naira","category-news","tag-against","tag-business","tag-depreciates","tag-dollar","tag-drops","tag-naira","tag-news","tag-supply"],"yoast_head":"\n