The exchange rate between the Naira and dollar and the official NAFEM window fell to N1,520.4/$ on Tueday May 14, 2024. This is a 2.78% depreciation from the previous day close.
This is the lowest in over 6 weeks and the first time the official rate will close above N1500/$1 since March 19th 2024.
The intra-day high also plummeted to N1,568/$1 pointing to an even weaker exchange rate at some point during the day.
This is a developing story….
