Naira Depreciates at Official Window to N1,534/$1, Stable at Parallel at N1,635/$1

…Daily turnover rises by 63%

Nume Ekeghe

The Naira yesterday made  a U-turn from its gaining streak as it depreciated at the official window after recording gains for four consecutive day. 

But was  however  stable on the parallel market  as it closed at N1,635 the same as the previous day.

At the official Nigerian Autonomous Foreign Exchange (NAFEM), Naira deprecated yesterday closing at N1,602.43 signifying a N68.24 loss or 4.45 per cent,  compared to N1,534.19 it closed on Monday.

Notably, the daily turnover recorded yesterday was $291.78 million indicating a 63.37 per cent increase from $178.63 million, quoted on Monday.

Also, the highest spot rate yesterday was pegged at N1652.40, while the lowest spot rate recorded was N1,450.