Naira Depreciates Against US Dollar As Forex Fluctuation Persists

Foreign exchange fluctuation is yet to end as the Naira depreciated against the US Dollar at the FX market on Thursday.

Official data from FMDQ showed that the country’s currency dropped to N841.14 against the Dollar on Thursday compared to N818 on Wednesday.

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The figure represents a depreciation of N23.14 compared to the exchange rate on the previous day.

Meanwhile, a Bureau De Change operator in Wuse Zone 4, Abuja, Dayyabu Mistila, said he sold at N1140 and bought at N1125 on Friday morning.

Newsmen reported that the Naira recorded a N31.23 gain on Wednesday despite a rise in inflation in October in Nigeria.