The Naira depreciated further against the United States dollar at the unofficial market on Wednesday, market data collated from currency dealers in the country revealed.
The rate implies a N5.00 depreciation from N1,025 per $1 rate it was exchanged in the previous session on Tuesday. The currency dealers who spoke with this medium explained that they are mostly interested in accepting the physical dollar instead of account-to-account transfer due to scarcity of the dollar.
According to the data, the naira closed at N765.83 per $1 on Tuesday as against N773.54 recorded on Monday.
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