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Naira stable at official market

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Naira recorded no visible movement against the greenback at the official market on Monday

recorded no significant movement against the United States dollar at the authorised market on Monday.

This implies a 0.04 per cent depreciation from N461.50 it closed on Friday 30 December the last day of business in 2022. Within this period, the market foreign exchange turnover is pegged at $47.13 million, the FMDQ data showed. Last year, the Nigerian naira recorded a significant depreciation across foreign exchange markets due to a sudden surge in demand for the greenback currency.

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