Nigerian Naira depreciates by 0.34% against the US dollar, trading at N1,602.18 per dollar.

The Nigerian Naira recently depreciated by 0.34% against the US dollar, trading at N1,602.18 to the dollar, a decrease of N5.49 from the previous day. Despite the Central Bank of Nigeria's efforts, the currency has shown continued volatility in both official and unofficial markets. The Financial Reporting Council of Nigeria remains confident in the currency's strength, citing strong demand for naira-denominated investments and treasury bills.