The Nigerian currency (Naira) on Wednesday depreciated by N5.00k as one dollar was sold at N425 compared to N420/$ traded on Tuesday at the black market.
In some parts of Lagos State, like Festac and Apapa, the dollar was trading at N420 amid low demand and scarcity of forex.
Foreign exchange market opened on Wednesday with an indicative rate of N385.07k per dollar. This represents 0.17 percent gain compared to N385.71k opened on the previous day at the Investors and Exporters (I&E) forex window.
Hope Moses-Ashike
