Naira loses N81 to dollar in one day

Naira loses N81 to dollar in one day

The naira lost N81.34 against the US dollar at the foreign exchange market on Thursday

FMDQ data showed that the naira fell to N1,154.08 per dollar on Thursday from N1,072.74 on Wednesday.

This represents a 7.04 per cent loss against the dollar compared to N1,072.74 per dollar traded the previous day.

At the parallel market, the naira also depreciated N1,100 per dollar on Thursday from N1, 040 on Wednesday.

This is the second time the naira would be depreciating against the dollar in three days amid fears of depleting foreign exchange reserves.

Nigeria’s foreign reserves dropped to $32.29 billion as of April 15.