Naira slumps seventh times against Dollar in days at Foreign Market

The Naira has slumped seven times in recent days against the US dollar at the foreign exchange.

FMDQ data showed that the Naira recorded a seventh drop against the Dollar, quoting N1309.88 per Dollar on Thursday from N1308.52 on Wednesday.

This represents a N1.36 loss on a day-to-day basis.

At the parallel market section, the Naira dropped between N1,300 and N1,370 on Thursday from between N1,250 and 1,300 the previous day.

In the last four days, Naira has recorded depreciation against the Dollar in the FX market.

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