Lagos, July 5, 2024 – The naira depreciated to N1520.24 against the dollar at AFEM, the official foreign exchange market on Thursday.
The exchange rate was N1,513.77 to the dollar at the segment on Wednesday.
The currency was also traded at the average of N1,520 to the dollar on Thursday across the different parallel markets in Lagos.
It has remained at that rate at the parallel market since Wednesday.
Traders attributed the steady depreciation of the Nigerian currency to increasing demand for foreign exchange. (GBN)
