Business
Naira Weakens Against Dollar At Official Forex Market
The naira continued depreciation against the dollar at the official foreign exchange market on Wednesday.
The Central Bank of Nigeria exchange rate data on Wednesday showed that the Naira weakened slightly to N1,549.26 on Wednesday from N1,549.04.
This means that the Naira marginally dropped by N0.22 against the dollar on Wednesday.
This is the third time Naira has recorded depreciation against the dollar this week.
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Meanwhile, at the Naira black market, the Naira gained N5 on Wednesday to close at N1,590 per dollar, up from N1,595 the previous day.
This showed that the naira ended Wednesday with sentiments at both foreign exchange markets.
Recall that on Monday and Tuesday this week, the Naira depreciated at the official market but has remained relatively stable at the black market.
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