The naira, on Wednesday, suffered a loss after gaining for two trading days at the official foreign exchange, FX, market, despite a marginal increase in dollar supply.
After trading on Wednesday, the naira depreciated to N1,329.65, weaker than N1,173.88 quoted on Tuesday at the Nigerian Autonomous Foreign Exchange, NAFEM, data from the FMDQ Securities Exchange Limited, indicated.
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Dollar supplied by willing buyers and willing sellers increased marginally by 2.5 percent to $336.5 million on Wednesday, up from $328.3 million recorded on Tuesday.
The summary of the FX market trading showed that the intraday high closed unchanged at N1,506 per dollar on Wednesday. The intraday low strengthened to N1,010/$1 on Wednesday as against N1,150 per dollar closed on Tuesday.
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