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The value of the naira depreciated against the US dollar in the foreign exchange market on Wednesday.
According to data from FMDQ, the naira fell to N1512.61 per
dollar on Wednesday, a decline from N1509.45 per dollar on Tuesday.
The value of the naira depreciated by N3.16 against the
dollar, moving from N1509.45 on Tuesday to its current value. In the parallel
foreign exchange market, the naira further depreciated from N1515 to N1520 per
dollar on Wednesday.
The foreign currency transaction turnover experienced a
significant decline, dropping from $213.31 million on Tuesday to $114.91
million on Wednesday, as per the data provided by FMDQ.
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