The Nigerian naira depreciates against the dollar closing at N809.71/$1 at the official market on Tuesday 7th, 2023.
This represents a 4.06% increase from the N776.14/$1 recorded on Friday 3rd November day.
The intraday high recorded was N1100/$1, while the intraday low was N720.50/$1, representing a wide spread of N379.50/$1.
According to data obtained from the official NAFEM window, forex turnover at the close of the trading was $87.65 million, representing an 11.30% decrease compared to the previous day.
However, on the black market where forex is sold unofficially, the exchange rate appreciated 16.18%, quoted at N1020/$1, while peer-to-peer traders quoted around N1063.50/$1.
