The Naira, on Thursday, recorded the biggest depreciation against the dollar since May 13, 2024.
FMDQ data showed that the Naira weakened to N1,520.24 against the dollar on Thursday from N1,512.61.
That represents N7.63 depreciation against the dollar compared to the N1,512.61 traded the previous day.
This is coming despite the increase in FX turnover transactions to $173.51 million on Thursday from $114.91 million on Wednesday, according to FMDQ data.
The last time they traded at N1,520 per dollar on the official FX market was on May 13, 2024.
Meanwhile, at the parallel foreign exchange market, the Naira on Thursday maintained its N1,520 against the dolllar, the same as of Wednesday.
With the development, official and parallel foreign exchange rates stood at the N1,520 per dollar mark.
