The Naira depreciated by ₦52.24 against the dollar over 48 hours due to a decline in foreign exchange supply.
FMDQ data revealed that the Naira fell to ₦1653.02 per dollar on Tuesday, compared to ₦1600.78 last Friday.
This marks the second time it has weakened since starting the week at ₦1603.16. The drop coincides with a decrease in FX transactions turnover from $359.22 million to $176.15 million.
Meanwhile, the black market rate reached ₦1728 per dollar on Tuesday.
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