According to FMDQ data, the Naira fell marginally to
N1544.02 per dollar on Thursday, down from N1539.65 on Wednesday.
This indicates a minor depreciation of 4.37 against the
dollar compared to the previous day's exchange rate.
This shift follows a 24-hour period in which the Naira had
appreciated by N116.91 on Wednesday.
Further examination reveals that the Naira remains
relatively strong compared to the N1656.56 per dollar rate observed at the
start of trading on Tuesday of this week in the official market.
In the black market, the Naira declined by N5, closing at
N1665 per dollar on Thursday, down from N1660 the day before.
Reports indicate that the Naira has been experiencing
fluctuations against the dollar and other currencies for several weeks.