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Naira Crashes Further Against Dollar Ahead Of Eid El-kabir

The naira depreciated further against the dollar at the foreign exchange market on Friday ahead of the Eid el-Kabir holidays.

FMDQ data showed that the naira depreciated to N1,482.72 against the dollar on Friday from N1476.24 on Thursday.

This represents an N6.48 depreciation against the dollar compared to the N1,476.24 traded on Thursday.

Meanwhile, at the parallel, the naira traded for N1,490 against the dollar on Friday, the same figure as on Thursday.

It can be recalled that the naira depreciated marginally against the dollar on Thursday as foreign exchange transaction turnover crashed to $92.68 million.

In the week under review, the naira appreciated twice against the dollar, the same with its depreciation.

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