On Wednesday, the naira depreciated against the dollar once more on the official and black foreign exchange markets.
This comes after the naira depreciated from N1,678.93 to N1687.52 per dollar on Tuesday, according to FMDQ statistics.
In comparison to the N1,678.93 exchange rate in the FX official market on Tuesday, this indicates a N8.59 loss versus the dollar.
In the same vein, the value of the naira dropped from N1740 to N1750 per dollar on Wednesday.
This is in spite of the fact that, according to FMDQ data, the turnover of FX transactions rose from $128.59 million on Tuesday to $173.29 million on Wednesday.
The Central Bank of Nigeria has intervened, but the naira has continued to move in relation to the dollar over the last few months.
