Naira depreciates massively as FX supply drops …C0NTINUE READING HERE >>>
The naira massively depreciated against the dollar at the foreign exchange market to kick off the week on a negative note amid a significant drop in FX supply on Monday.
FMDQ Data showed that the naira dropped to N1670.65 per dollar on Monday from N1600 exchanged last Friday. This represents a N70.65 depreciation.
Similarly, at the parallel market, the naira fell to N1746 per dollar on Monday from N1740 traded at the close of last week.
The development comes after foreign…
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