The local currency has dropped by N122.04, or 12.24%, from its closing value of N874.71 on Wednesday, marking a new all-time low, according to a report seen in the Nairametrics. October 30th’s record low of N993.8 was the most recent all-time low.
There was a broad spread of N356/$1, with the intraday high being N1100/$1 and the intraday low being N744.00/$1.
Data from the official NAFEM window indicates that at the end of trading, there was $228.54 million in currency turnover, which was 101.32% higher than the day before.
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Read More: Nigeria’s currency hits a new record low on the official market