The Nigerian currency continued its depreciation against the US dollar at the official market but improved at the black and peer-to-peer market
Data from FMDQ securities showed that the Nigerian Naira depreciated against the United States Dollar in the Investors and Exporters (I&E) window of the foreign exchange market on Friday by 50 Kobo or 0.11 percent to close at N461.75/$1.
The depreciation was caused by FX demand pressure on the Naira during the trading session.
Data showed the value of forex transactions in the official window increased to $97.67 million, in contrast to the $45.16 million recorded in the preceding trading day, indicating an increase of 116.3 percent or $52.51 million
