DAILY POST
The Naira depreciated massively against the dollar in the foreign exchange market.
FMDQ data showed that the Naira weakened significantly to N1561.98 against the dollar on Wednesday from N1532.58 traded on Tuesday.
This represents an N29.4 against the dollar compared to the N1532.58 traded on Tuesday.
Similarly, at the parallel foreign exchange market, the Naira fell to N1560 per dollar on Thursday from N1540 the previous day.
Further analysis showed that the Naira lost N29.4 and N20 against the dollar on Thursday at both official and parallel foreign exchange markets.
The figure surpassed the N22.91 depreciation traded from last Friday to Wednesday.
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