Naira records massive depreciation against Dollar after Eid-ul-Fitr holidays

The Naira depreciated massively against the dollar astatine the authoritative overseas speech marketplace connected Monday upon resumption of trading aft Eid-ul-Fitr break.

Central Bank of Nigeria’s information showed that the Naira dropped to N1,388.38 per dollar connected Monday connected from N1,353.90 connected Wednesday past week earlier the holiday.

This means that the Naira weakened by N34.48 per dollar connected Monday erstwhile compared with N1,353.90 exchanged past week.

Meanwhile, astatine the achromatic market, the Naira stood astatine N1,412 per dollar up from N1,420.

DAILY POST reports that the section currency recorded depreciation against the dollar earlier the vacation aft days of rallying astatine the currency market.

Naira records monolithic depreciation against Dollar aft Eid-ul-Fitr holidays