Thursday’s depreciation at the official market is the highest drop in the past 48 hours as it dipped by N10.92 against the dollar.
The naira has continued its downward trajectory against the dollar, recording its highest drepreciation in 24 hours.
According to the Central Bank of Nigeria's exchange rate data, Naira fall to N1,554.85 per dollar from N1,543.91 on Thursday.
Thursday’s depreciation at the official market is the highest drop in the past 48 hours as it dipped by N10.92 against the dollar.
Similarly, the Naira weakened to N1,590 per dollar mark on Thursday at the black market.
This is N5 depreciation on a day-to-day basis when compared to the N1585 per dollar exchange rate at the parallel market the previous day.
Since this week kicked off, the Naira has been on a depreciation streak.
The development showed that Naira is fast undoing past months appreciation and stability record against the dollar despite the Central Bank of Nigeria’s policy interventions.
