The naira declined against the dollar for the third consecutive trading session at the official foreign exchange market on Wednesday.
Data from the Central Bank of Nigeria showed that the naira weakened further to N1,366.71/$1, down from N1,365.53/$1 recorded on Tuesday.
This means the naira depreciated by N1.18 against the dollar at the official foreign exchange market, marking its third consecutive decline this week.
Similarly, at the black market, the Nigerian currency weakened by N5 to N1,415 per dollar on Wednesday, from N1,410 per dollar the previous day.
The development comes as the country’s foreign reserves stood at $51.94 billion.
DAILY POST reports that the naira has now depreciated for three consecutive trading sessions against the dollar at the official foreign exchange market this week.