Business
Naira Depreciates for Third Day Straight in Official Market
The Nigerian naira continued its downward trajectory against the US dollar on Thursday, recording a slight decline at both the official and parallel markets.
Data from the Central Bank of Nigeria showed the naira closing at ₦1,549.49 per dollar, a marginal drop from Wednesday’s rate of ₦1,549.21. This represents a day-to-day loss of ₦0.28.
Thursday marked the third consecutive day of depreciation for the naira in the official foreign exchange market, following declines recorded on both Tuesday and Wednesday.
In the black market, the naira also weakened, falling to ₦1,600 per dollar compared to ₦1,595 on Wednesday. The continued pressure on the currency comes amid ongoing concerns about dollar supply and economic stability.
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