Naira slumps against Dollar at foreign exchange market


The Naira has resumed depreciation against the Dollar in the foreign exchange market.

FMDQ data showed that the Naira depreciated to N1402.67 per Dollar on Thursday from N1,390.96 on Tuesday.

This represents an N11.71 loss compared to the N1,390.96 recorded on Tuesday.

Meanwhile, at the parallel market, the Naira appreciated to N1340 per Dollar on Thursday from N1360 per Dollar on Tuesday.

DAILY POST reports that the National President of the Association of Bureaux De Change of Nigeria, Aminu Gwadabe, said its plans to harmonize the retail end of foreign exchange will stabilize the Naira in the forex market.

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