Nigerias currency, the naira, on Wednesday experienced a decline in the official market while it remained stable in the parallel market.
At the Nigerian Autonomous Foreign Exchange (NAFEM) window, it closed at N1,421.06/$1, marking a depreciation of N4.49 compared to the previous rate of N1,416.57/$1 on Tuesday.
Meanwhile, the parallel market closed at N1,450/$1, stable as the previous day.
The daily turnover recorded an increase in transactions of 2.47 per cent, to $164.74 million on Wednesday compared to the $160.77 million recorded on Tuesday.
Furthermore, the highest spot rate observed on Wednesday stood at N1,440, with the lowest spot rate recorded at N1,335.
Nume Ekeghe
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