By Tambaya Julius, Abuja
The Naira faced another depreciation against the Dollar on Friday, with exchange rates reaching N777.82 at the Investors and Exporters window.
This marked a decline of 1.26% compared to the previous day’s rate of N768.16.
Throughout the day’s trading, the spot exchange rate experienced fluctuations, reaching a peak of N844 to the Dollar before settling at N777.82.
This highlights the volatility of the forex market and its impact on the Naira’s value.
During the day’s trading, the Naira’s value dipped to as low as N700 to the Dollar, indicating the challenges faced in stabilizing the currency amidst market pressures.
The total volume traded at the Investors and Exporters window on Friday amounted to 77.99 million dollars, underscoring the significant activity in the forex market and its implications for the Naira’s exchange rate.
With this comprehensive report, you can stay informed about the latest developments in the forex market, the Naira’s performance against the Dollar, and the factors influencing currency fluctuations.
As the financial landscape continues to evolve, keeping track of such updates becomes crucial for businesses and individuals engaged in international trade and investments.