Naira to dollar exchange rate records slight depreciation on Thursday

The Naira slightly depreciated against the dollar at the close of trading at the foreign exchange market on Thursday.

FMDQ data showed that the Naira marginally weakened to N1544.02 against the Dollar on Thursday from N1539.65 exchanged on Wednesday.

This represents a slight 4.37 depreciation against the dollar on Thursday compared to the N1539.65 exchange rate on Wednesday.

This comes 24 hours after the Naira recorded N116.91 appreciation on Wednesday.

Further analysis showed that Naira stands strong when compared to the N1656.56 per dollar exchange rate at the beginning of trading on Tuesday, this week at the official market.

Meanwhile, the Naira lost N5 to close at N1665 per dollar at the black market on Thursday from N1660 recorded the previous day.

DAILY POST reports that for weeks now, the Naira had continued to fluctuate against the dollar and other currencies.