Naira Continues To Depreciate Against Dollar As Nationwide Protest Approaches—The naira continued its decline against the dollar on the foreign exchange market on Monday.
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FMDQ data showed that the naira further weakened by N2.11 to N1,611.40 per dollar on Monday from N1,609.29 traded last Friday.
Similarly, the naira-to-dollar exchange rate at the black market dropped by N5 to N1,600 on Monday from N1,595 traded last week.
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This development comes despite the Central Bank of Nigeria’s sales of $148m to 29 authorised FX dealers last week.
DAILY POST reports that within the last two weeks, the Central Bank had sold $254.5 million to legitimate FX dealers.
