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    Friday, May 29
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    Naira Depreciates by 0.16% Against Dollar at Official Market

    Olu AnisereBy No Comments1 Min Read
    Naira Depreciates by 0.16% Against Dollar at Official Market

    Naira Depreciates by 0.16% Against Dollar at Official Market

    The Naira on Friday recorded loss at the official market, trading at N1,483.99 to the dollar.

    Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N2.50.

    This represents a 0.16 per cent loss when compared to the previous trading date on Thursday, trading  at N1,481.49 to the dollar.

    However, the volume of currency traded increased to $269.27 million on Friday up from $213.31 million recorded on Thursday.

    Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,507.00 and N1,399.00 against the dollar. CBN Probe: Tinubu, Cardoso’s Anti-Corruption Drive Yielding Results — Analyst

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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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