Naira has crashed to all time low since March 2024.
NewsOnline Nigeria reports that the naira has suffered a significant depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window, falling to N1,561.98/$1 on Wednesday, July 10, 2024.
According to data from the FMDQ Securities Exchange, the naira depreciated by 2% from N1,532.58/$1 recorded the previous day.
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This is the third consecutive deprecation amid stronger external reserves and rising foreign exchange (FX) turnover.
It is also the lowest level since March 18, 2024, when it was N1,597.25/$1, as the naira nears N1,600 less than three weeks after it crossed the N1,500 ceiling.
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