Naira crashes further against dollar ahead of Eid el-Kabir

 "The naira experienced a further decline in value against the US dollar on Friday, ahead of the Eid el-Kabir holidays. According to data from FMDQ, the naira exchanged at N1,482.72 per dollar on Friday, down from N1,476.24 on Thursday. This represents a depreciation of N6.48 compared to the previous day's rate. On the parallel market, the naira traded at N1,490 per dollar on Friday, unchanged from the previous day. This development follows a marginal depreciation of the naira against the dollar on Thursday, with a significant decrease in foreign exchange transaction turnover to $92.68 million. Overall, the naira appreciated twice and depreciated twice against the dollar during the review period."