The Naira experienced a further drop in value yesterday, falling to N1,600 per dollar in the parallel market, compared to its earlier rate of N1,585 per dollar on Tuesday.
Similarly, the official foreign exchange market saw a depreciation, with the Naira trading at N1,545 per dollar.
This marks a noticeable increase from Tuesday’s rate of N1,525 per dollar, indicating a N20 loss in value, according to data from the Daily Nigerian Foreign Exchange Market (NFEM), which is regularly published by the Central Bank of Nigeria (CBN).
