The Nigeria currency continues to depreciate as the dollar was sold on Thursday for ₦417.51 at the official market.
This was disclosed in data released on the official website of the Central Bank of Nigeria, showing the exchange rate result and its Monthly Moving Average.
The data on the CBN website revealed that dollar was sold for ₦417.51, while it was bought at ₦416.51
The development saw Naira depreciate against the US dollar, 24 hours after it recorded a slight gain at the spot market segment.
However, the data released by the FMDQ website where forex is officially traded, showed the Nigeria currency was sold at ₦416.51 to a dollar on Thursday.
This represents an N0.3 or 0.10 per cent devaluation from N416.37 it exchanged in the previous session on Wednesday, with $109.75 million recorded as foreign exchange turnover at the close of business, on Thursday.
