Naira drops further against dollar at foreign market
On Wednesday, the naira lost even more ground to the dollar in the foreign exchange market. The naira fell to N1512.61 acgainst the dollar on Wednesday from N1509.45 on Tuesday, according to FMDQ data.
In relation to the dollar, this is a N3.16 drop from the N1509.45 traded on Tuesday.
In a same vein, the naira lost value against the dollar on Wednesday, moving from N1515 to N1520 on the alternative foreign currency market.
This result coincides with a decline in foreign currency transaction turnover, as reported by FMDQ data, from $213.31 million on Tuesday to $114.91 million on Wednesday.
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