From N995 per dollar on Tuesday, the naira dropped to N1005 per dollar yesterday in the black market.
Similar to this, the naira dropped yesterday to N775.31 per dollar in the Investors and Exporters (I&E, window.
According to data from FMDQ, the indicative exchange rate for the I&E window increased from N755.08 per dollar on Tuesday to N775.31 per dollar, representing an N20.23 depreciation for the naira.
$144.55 million worth of dollars were exchanged on the window on Wednesday, an increase of 6.3 percent over the $135.98 million on Tuesday.
As a result, from N217.92 per dollar on Tuesday, the difference between the official and parallel market currency rates increased to N229.69 per dollar yesterday.