The Naira experienced depreciation against the dollar yesterday, trading at N1,650.20 per dollar at the official market, compared to N1,645.45 the previous day.
On the black market, the Naira traded between N1,738 and N1,745 to the dollar.
This depreciation comes amid a decline in FX transaction turnover, which dropped to $214.73 million from $236.84 million recorded the previous day.
The depreciation has raised concerns among businesses and investors, as the Naira continues to face pressure from dollar scarcity and high inflation.
Despite interventions by the Central Bank of Nigeria (CBN), the Naira’s value has been fluctuating significantly in recent months.
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