On Thursday, the Naira experienced a significant depreciation against the US dollar in the foreign exchange market. According to FMDQ data, the Naira weakened from N882.24 per dollar on Wednesday to N900.96 per dollar on Thursday, reflecting a loss of N18.72 or a 2.12% decrease.
Additionally, the parallel forex market saw the Naira reaching a record low of N1,410 per Dollar, marking a 0.37% decrease from Wednesday’s N1,365 per dollar, despite a 103.52% increase in forex turnover, reaching $115.19 million on Thursday.
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