close
close

Naira plummets against dollar in forex market

The naira has again depreciated against the dollar in the foreign exchange market.

FMDQ data showed that the naira depreciated to N1,402.67 per dollar on Thursday from N1,390.96 on Tuesday.

This represents a loss of N11.71 compared to N1,390.96 recorded on Tuesday.

Meanwhile, in the parallel market, the naira appreciated to N1,340 per dollar on Thursday from N1,360 per dollar on Tuesday.

DAILY POST reports that the National President of the Association of Nigerian Bureaux de Change, Aminu Gwadabe, has said his plans to harmonize the retail foreign exchange sector will stabilize the Naira in the foreign exchange market.