DAILY POST
The Naira reached an all-time low on Thursday as it depreciated to N1,043.09 per US dollar in the official market a few days into the New Year.
FMDQ data showed that the Naira crashed to a record low recently.
The figure represents a significant N170.50 or 16.35 per cent depreciation compared to the N872.59/$1 it was quoted on Wednesday.
This is the second time the Naira crossed the N1,000/$ threshold; the first time was on Friday, December 8, 2023, when it reached a new historical low of N1,099.05 per Dollar in the official market.
This development represents a major turning point in the history of the Naira.
According to FMDQ data, forex turnover at the close of trading on Thursday dropped to $83.63 million, representing a 34.63 per cent decrease compared to the previous day.
Similarly, Naira depreciated marginally to N1,220 per Dollar on Thursday from N1,205 per Dollar.
