On Monday, currency dealers in Uyo exchanged the Naira for N595.00 and sold it for between N596.00 and N600.00 per dollar, while black market dealers in Abuja’s Wuse Zone 4 said the currency was converted for N594.00 and sold for N595.00 per dollar.
The Naira, which commenced trading at N417.30 to a dollar on Monday, May 16, concluded at N421.50 to a dollar at the close of business on FMDQ, where forex is legally exchanged.
Fears of a further devaluation of the national currency have grown as the local currency has depreciated.
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