- The naira went down again on Wednesday, dashing the hopes of Nigerians after depreciating by 0.29% in the official market
- A similar trend was observed in the unofficial market, where the naira traded at N1,545/$1 from the previous day’s closing rate of N1,517/$
- This comes after the IMF asked the Central Bank of Nigeria (CBN) to settle the overdue FX backlog to give confidence to the currency
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market
On Wednesday, February 14, 2024, the naira depreciated against the dollar, crossing the N1,500/$ mark due to a sharp drop in foreign exchange turnover.
