The Naira on Friday experienced a slight fall at the official window, trading at N1,169.99 to the dollar.
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira dropped by 1.38 per cent as against the N1,154.08/$ traded on April 18.
The local currency, on the other hand, depreciated by 17.14 per cent to N1,230 per dollar — from N1,050/$ on April 17.
Meanwhile, the decline ended the upward trend of the naira at the street market since March 20, when the FX rate was N1,500/$.
This comes a day after the Central Bank of Nigeria (CBN) denied selling FX to BDC operators at the rate of N1,001/$1.
Source:
Tribune Online