0
0
Read Time:33 Second
The naira experienced its sharpest depreciation against the US dollar at the parallel market by the close of trading on Wednesday, May 7.
Reports from various parts of Lagos indicated that the exchange rate hit ₦1,625 per dollar on Wednesday, up from ₦1,610 on Tuesday.
This marks a ₦15 drop, the largest daily decline in the naira’s value against the dollar so far this week.
In the official market, the naira also weakened, falling to ₦1,608.60 on Wednesday, down from ₦1,605.62 the day before. The naira has now been on a downward trend against the dollar at the official market for three consecutive days.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
Share:
