ENUGU, Nigeria (VOICE OF NAIJA) – The naira’s depreciation against the US dollar persisted in both the official and parallel foreign exchange markets on Thursday.
As reported by FMDQ, the naira was valued at N837 per US dollar on Thursday, marking a slight increase from the N802 per US dollar rate as was recorded on Wednesday.
Similarly, in the parallel market, the national currency faced devaluation., Daily Post reports.
According to Dayyabu Mistila, a Bureau De Operator in Zone 4, Abuja, Nigerians were buying the naira at a rate of N1,250 per US dollar on Thursday, representing a N50 increment from the N1,200 per US dollar exchange rate observed on Wednesday.
This trend follows Monday’s statement by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, who revealed Nigeria’s anticipation of a $10 billion inflow aimed at stabilizing the naira.