Naira depreciates at forex markets

The Naira fell significantly against the United States dollar at the official market on Monday, data published on the FMDQ website showed.

The local currency, which stood at N781.99 to a dollar earlier in the day closed at the spot market segment at N773.54 per $1 on Monday, the data reveals.

The figure represents a N31.69 or 4.3 per cent depreciation from N741.85 per $1 it was exchanged at the official market last Friday.