The troubles facing the Nigerian Naira persist, with the local currency continuing its downward trend on both the official and parallel markets by the close of trading on Thursday.
All the gains made by the Naira over the past week have evaporated, as it ended on Thursday at N1,547.82 per dollar on the Nigerian Foreign Exchange Market (NFEM), according to data from the Central Bank of Nigeria (CBN).
This marks a significant depreciation compared to Wednesday’s figure, when the currency was valued at N1,538.68. Consequently, between Wednesday and Thursday, the Naira lost over N9.
In the parallel market, the Naira’s situation was no better, trading at N1,590 per dollar, up from N1,585 on Wednesday.
