Naira depreciates three times against dollar in five days

The naira depreciated three times against the dollar in the last week in the foreign exchange market.

FMDQ data indicated that the naira depreciated to N1,169.99 per dollar at the foreign exchange market on Friday, compared to N1,154.08 on Thursday.

This represents a loss of N15.91 compared to the figure traded the previous day.

On Tuesday, the naira recorded its first depreciation against the dollar after months of steady gains.

This was followed by another downturn on Thursday when the naira lost N81 to the dollar.

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