The Nigerian currency, the naira, succumbed further to pressure as it lost 17.91 per cent in exchange value against the United States dollar
According to this report, naira exchanged N951.22/$ on the official Investor and Exporter forex window on Wednesday.
This was as the dollar supply fell by 4.94 per cent to $135.58m from $142.63m.
Data from FMDQ Securities Exchange revealed that the naira lost N144.49 against the dollar after closing trading on Tuesday at N806.73/$.
The naira opened trading at N828.33/$ on the day before hitting a high of N1159.10/$ and low of N701.00/$. It eventually closed trading at N951.22/$. Total dollar turnover on Wednesday was $135.58m.
The naira’s volatility in the market continued despite efforts by the Central Bank of Nigeria to stabilise the national currency.