The Naira’s value has taken a hit, depreciating to N1,669.15 against the US dollar at the official market, and that’s not all – it also lost N127.21, according to data from the FMDQ Exchange . This isn’t an isolated incident, though. Over the past 20 years, the Naira has consistently lost value against the US dollar, with a whopping 69.47% depreciation since the current administration took office .
This represents an 8.24 per cent loss when compared to the previous trading date on Monday, Sept. 30 when it exchanged at N1,541.94 to a dollar.
Also, the total daily turnover reduced to 176.45 million dollars on Wednesday down from 181.86 million dollars recorded on Monday.
Meanwhile, at the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,699 and N1,550 against the dollar.
