The Naira, on Monday, fell to N1,534/$1, a record low at the Nigerian Autonomous Foreign Exchange Market (NAFEM), the country’s official foreign exchange (FX) window. The local currency depreciated by 4.38 percent from N1,469.97/$1 recorded on February 9, according to FMDQ Exchange, a platform that oversees FX trading in Nigeria. At the parallel section of the FX market, the naira depreciated to N1,505/$ — a 0.33 percent decline from N1,500/$ reported on February 7, 2024. Currency traders at the street market quoted the buying price of the greenback at N1,450…
Read MoreNEW ALL-TIME LOW: NAIRA EXCHANGES FOR 1,534/$ AT OFFICIAL MARKET
