Turnover at official forex market falls to $142.32m amid protest
Dollar
Turnover at official forex market falls to $142.32m amid protest
Nike Popoola
The official forex market recorded $142.32m turnover at the end of trading on Thursday, August 1, 2024. This was a decline of 47.45% from $270.81m recorded on Wednesday.
Many banks and other businesses had closed operations as the 10-day #Endbadgovernance protest which was held across the country began on Thursday.
Lives and properties were lost in states including Abuja, Niger, Kano, Borno, Kaduna, as the law enforcement agencies tried to restore orderliness in different quarters.
But amid the crisis, $142.32m turnover was recorded, figures obtained by Dailyeconomy from the FMDQ revealed.
According to the figures, on the Investor & Exporter forex window, the naira hit a high of N1,631/$ before closing at N1,570/$ at the end of the trading.
The naira was bought and sold at the parallel market at N1,605/$ and N1,615/$, according to Bureau de Change operators.
The BDCs who spoke to Dailyeconomy said the naira was bought and sold at N2,040/ £ and N2,080/ £; it was bought and sold at N1,720/ € and N1,750/ €.
