The naira extended its losing streak against the dollar for the fourth consecutive trading session, marking its steepest depreciation in 48 hours.
According to data from the Central Bank of Nigeria (CBN), the naira fell to ₦1,554.85 per dollar on Thursday, down from ₦1,543.91 recorded on Wednesday—representing a ₦10.92 drop at the official market.
Similarly, in the black market, the naira weakened further to ₦1,590 per dollar on Thursday, a ₦5 decline from the previous day’s rate of ₦1,585.
The continuous decline suggests that the naira is rapidly reversing its previous months of appreciation and stability, despite intervention measures by the CBN.
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