Naira Loses N89 Against Dollar

In the first week of October 2024, the Naira depreciated by N89.27 against the dollar in the official foreign exchange market.

This comes as the Naira ended the week at N1631.21 per dollar from N1541.94 exchange rate on September 30, 2024.

This showed that the Naira had weakened by a significant N89.27 against the dollar.

Further analysis showed that the Naira, despite recording mixed sentiments of gains and losses at the official FX market in the period under review, has predominantly depreciated.

Meanwhile, at the black market, the Naira gained N30 to close the week at N1,670 per dollar compared to N1,700 it started that month.