Naira fell against the U.S. dollar at the official market on Wednesday, the second straight day of its fall this week.
This occurred as foreign exchange turnover declined marginally.
The naira closed at N416.25 to a dollar at the close of trade on Wednesday, representing a N0.5 or 0.12 per cent devaluation from the N415.75 rate it exchanged with the hard currency in the previous session on Tuesday, data published by FMDQ where forex is officially traded, showed.
The domestic unit reached an intraday high of N408.00 and a low of N444.00 before closing at N416.25 on Wednesday.
Forex turnover decreased by 38.25 per cent, with $102.07 million recorded at the close of trade on Wednesday, against the $165.30 million published in the previous session on Tuesday.
Currency dealers at the Abuja black market exchanged the naira with the greenback currency at N567.00 per $1 on Wednesday and was sold at N568.00 per $1.
At the Uyo parallel market, dealers exchanged the naira with the U.S dollar at N 565.00 per $1 and sold at N570.00 on Wednesday.
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