Naira Continues Depreciation At Official Market, No Longer N1,606 Per Dollar

The naira’s decline continued yesterday, with the official exchange rate falling to N1,639.41 per dollar.

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This marks a significant drop of N34 from the previous day, when the rate was N1,606, according to the Nigerian Autonomous Foreign Exchange Market (NAFEM) rate.

Additionally, the black market rate also decreased, with the naira losing N5 against the dollar. It traded at N1,645 per dollar, compared to N1,640 the day before.

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