The naira on Thursday, 31 October, 2024 depreciated to N1675.49 and N1750 against the dollar at the official and parallel foreign exchange markets .
This comes as FMDQ data showed that the weakened further to N1675.49 per dollar on Thursday from N1631.17 exchanged on Wednesday, 30 October, 2024.
This means that it lost N44.32 against the dollar on Thursday, 31 October, 2024 compared to the N1631.17 exchange rate on Wednesday, 30 October, 2024.
However, at the black market, it remained flat at N1750 per dollar on Thursday,31 October, 2024 the same exchange rate traded on Wednesday, 30 October, 2024.
The depreciation of Naira comes despite the foreign exchange transaction turnover increase to $166.61 million on Thursday, 31 October, 2024 from $128.98 million recorded the previous day.
