Naira
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.
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.
More Details Shortly….
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