Naira Depreciates To N861.91/$1 At Official Market

The Naira further marginally fell at N1249/$1 on Thursday, 21st December 2023, closing at N861.91/$1 at the official market.

The domestic currency depreciated 0.85% to close at N861.91/$1 to a dollar at the close of business on Thursday, data from the NAFEM where forex is officially traded, showed.   

This represents an N7.3 loss or a 0.85% decrease in the local currency compared to the N854.61 it closed on Wednesday.

The intraday high recorded was N1249/$1, while the intraday low was N700/$1, representing a wide spread of N549/$1.

According to data obtained from the official NAFEM window, forex turnover at the close of the trading recorded $181.30 million, the same as what it closed the previous day.

However, the naira gained marginally at the parallel forex market where forex is sold unofficially, the exchange rate appreciated by 0.81%, quoted at N1228/$1, while peer-to-peer traders quoted around N1193.20/$1.