The latest fall is happening despite improved dollar supply at the FX market.

“The naira has continued to record loss against the dollar at the exchange rate market.
 
According to Nairametrics, naira depreciated against the US dollar on Tuesday to close at N416.83/$1 at the official window.
 
Exchange rate depreciated by 0.05% compared to N416.63/$1 recorded in the previous trading session.
 
On the hand, the exchange rate at the parallel market closed flat at N588/$1, the same as recorded in the previous trading session. This is according to information obtained from BDCs operating in Nigeria.
 
Naira depreciated marginally against the US dollar on Wednesday morning, trading at a minimum of N583 to a dollar compared to N582/$1 recorded in the previous trading session, representing a depreciation of 0.17%.

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