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Business News of Tuesday, 16 August 2022


Naira falls at official market

Naira fell against the U.S. dollar at the official forex market on Monday.

The local unit which opened trading at N429.70 to a dollar depreciated 0.09 per cent to close at N430.00 to a dollar at the close of business on Monday, data published on the FMDQ website where forex is officially traded, showed.

Before the close of business on Monday, the currency value appreciated to a high of N417.00 and slipped to a low of N444.00 before closing at N430.00, with $134.30 million posted as forex turnover within this period.

At the Uyo unauthorised market, currency traders said they bought the dollar at N673.00 and sold it at N676.00 to a dollar on Monday, while exchangers at the Abuja black market on said the dollar was exchanged at N670.00 and sold at N673.0 at the close of business on Monday August, 15.