Naira fell against the U.S. dollar at both the official and unofficial markets on Tuesday, slipping to a record low at the unauthorised market amidst continuing scarcity and high demand of the greenback.
Naira which commenced trading at N440.58 per $1 at the spot market declined to N441.67 per dollar at the close of sales, data published on FMDQ websites, where forex is officially traded, showed.
This implies a 0.07 per cent devaluation from N441.38 it exchanged in the previous session on Monday.
Foreign exchange supply rose to $79.41 million on Tuesday, representing 101.2 per cent increase from $39.47 million on Monday.
Similarly, the local unit crashed significantly at the street market on Tuesday, parallel market exchange rates reviewed across states showed.
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Currency dealers at the Abuja Zone 4 market said the dollar was exchanged at N758.00 on Tuesday as against N755.00 it traded on Monday. It sold at N761.00 and…
