Breaking News
Naira Depreciates Slightly Against the Dollar to Start the Week
The Naira experienced a minor depreciation against the dollar on Monday, marking a slight decline in its performance as it resumed trading for the week.
According to data from FMDQ, the Naira closed at N1536.58 per dollar on Monday, compared to N1,534.56 at the end of last week. This represents a decrease of N2.2 from Friday’s rate.
In the black market, however, the Naira held steady at a range between N1,662 and N1,665 per dollar, unchanged from last Friday.
Alhasan Baggazin, a Bureau De Change operator in Wuse Zone 4, confirmed, “We are selling between N1,662 and N1,665 per dollar on Monday, the same rates as last week.”
It is noteworthy that the Naira had maintained a positive trend against the dollar since the beginning of the year, until this slight dip on Monday.
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