The naira experienced a significant drop on Tuesday, depreciating to N1,658.97 against the U.S. dollar in the official market.
According to data from the FMDQ Exchange, the naira lost N106.05 in value, marking a 6.82% decline compared to Monday’s rate of N1,552.92 per dollar.
Additionally, daily trading turnover decreased to $217.86 million on Tuesday, down from the $343.71 million recorded the previous day.
In the Investors and Exporters (I&E) window, the naira traded within a range of N1,670.50 and N1,556.29 against the dollar.