Gatekeepers News reports that Nigerian local currency depreciated by 2.54% to close at N925.34 to a dollar at the close of business, according to data from NAFEM where forex is officially traded.
This represents an N22.89 loss or a 2.54% decrease in the local currency compared to the N902.45 it closed at on the previous day.
Similarly, the naira depreciated in the parallel forex market where forex is sold unofficially.
The exchange rate quoted at N1360/$1, representing a 0.74% decrease over what it closed the previous day, while peer-to-peer traders quoted around N1371.02/$1.
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