The value of the naira depreciated at the unofficial market on Wednesday as it traded at 1,705/dollar, according to Bureau De Change operators in Lagos and Abuja.
The World Bank has recently listed the naira as one of the worst-performing currencies in Sub-Saharan Africa in 2024
As of August, the local depreciated by approximately 43 per cent year-to-date, ranking it among the weakest currencies alongside the Ethiopian birr and the South Sudanese pound.