Naira fell against the United States dollar at both the official and unofficial markets on Wednesday, data published by FMDQ showed.
According to the data, the local unit closed at N931.23 per dollar at the official window on Wednesday. The rate implies a N52.70 or 6.0 per cent depreciation from the N878.57 rate recorded in the previous session on Tuesday.
Similarly, the naira plunged further at the unauthorised window on Wednesday.
According to market rates gathered from currency dealers across major states in the country, the dollar was exchanged between the rate of N1,325 and N1,330 to a dollar at the black market segment on Wednesday amidst soaring demands.
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Financial experts have attributed the continuous downward trend of the local fiat against the greenback to a surge in demand for dollars by citizens to offset importation bills, school fees and airline fares among others.
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