By Chijioke Kingsley
Abuja (Sundiata Post) – The naira depreciated marginally against the dollar at the official foreign exchange market.
FMDQ data showed that naira depreciated slightly to N1476.95 on Tuesday from N1476.12 on Monday.
This represents N0.83 loss against the dollar compared to the N1476.12 traded on Monday.
Similarly, at the parallel market section, the naira depreciated to N1500 against the dollar from N1475 recorded on Monday.
This comes barely 24 hours after the naira appreciated at official and parallel market to begin the week.
Sundiata Post reports that the country’s foreign reserves dropped $1.8 billion in 10 weeks.
