Lagos, Aug. 29, 2024 – The Nigerian currency, Naira, on Wednesday depreciated to N1,605.56 to the dollar at the official Nigerian Autonomous Foreign Exchange Market (NAFEM) from N1,602.56 on Tuesday.
The exchange, however, remained stable at the parallel market on Wednesday, still trading between the band of N1,620 and N1,621 to the dollar.
The naira has been unstable at the NAFEM in the last one month in spite of renewed efforts of the Central Bank of Nigeria (CBN) to stabilise the rate through interventions. (GBN)
