- The Naira continues its poor performance against the US dollar across all foreign exchange markets
- This is despite the pledge from the Saudi Government to provide forex and ease the pressure on Naira
- Tinubu’s government has consistently spoken of plans to achieve a fair exchange rate value by December 2023
Nigerian currency, the Naira, depreciated further in the official and unofficial foreign exchange markets.
In the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official market, the Naira depreciated by 6.9 per cent or N54.81 against the dollar to close at N850.22/$1, in contrast to Monday’s exchange rate of N795.41/$1.
