Naira exchange rate against dollars hits N1603.80 on official FX market

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The naira crossed the N1,600 mark against the dollar at the official foreign exchange market on Thursday.

FMDQ data on Thursday showed that the naira depreciated to N1,603.80 per dollar on Thursday from N1,586.71 traded on Wednesday, recording a N17 loss.

Similarly, at the black market, the naira further depreciated to N1,593 per dollar on Thursday from N1,585 exchanged on Wednesday.


The figures from both official and parallel foreign exchange markets showed that the naira declined further against the dollar and other FX.