The Nigerian Naira experienced further depreciation in both the parallel market and the Nigerian Autonomous Foreign Exchange Market (NAFEM) yesterday.
In the parallel market, the Naira fell to N1,575 per dollar, down from N1,565 per dollar on Tuesday. Meanwhile, in NAFEM, the Naira depreciated to N1,586.71 per dollar.
This continued decline in the value of the Naira highlights ongoing pressures on the Nigerian currency amidst economic challenges. Market analysts are closely monitoring these trends as they signal potential impacts on the broader economy.
