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Naira loses against dollar at official market

The currency remained unchanged at the parallel market.

Naira fell marginally against the U.S. dollar at the official market as forex turnover rose slightly on Thursday, data posted on the FMDQ Security Exchange (Nafex window) where forex is officially traded showed.

However, the currency remained stable at the black market window.

According to data recorded on the Nafex window, the naira closed at N411.67 per $1 on Thursday, this implies a N0.27 or 0.10 per cent depreciation from the N411.40 it traded in the previous session on Wednesday.

The domestic currency clinched an intraday high of N400.00 and a low of N412.50 before closing at N411.67 at the Nafex window on Thursday.

The market segment forex turnover rose by 23.24 with $150.99 million recorded as against the $122.52 million recorded in the previous session on Wednesday.

Meanwhile, the currency remained unchanged at the black market window, data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed that the local currency closed at N515.00 per $1, the same rate it traded in the previous session on Wednesday.

he spread between the Nafex and black market rates stood at N103.33, leaving a margin of 20.06 per cent as of the close of business Thursday.

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