The Nigerian Naira depreciated to its lowest level in three weeks on the official market on Wednesday, June 5, 2024 by closing at ₦1,488.60/$1.
The naira experienced a 0.78% drop from the previous day on the NAFEM window, according to the latest data from the FMDQ Securities Exchange.
The naira’s latest slump, although marginal, affirms the high volatility of the local currency.
Over the past three weeks, the naira has experienced a roller-coaster trajectory.
The naira saw its highest strength within the last three weeks, trading at ₦1,173.88/$, after a 14.09% appreciation on May 27, 2024.
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