According to data from the FMDQ securities exchange, the Naira depreciated against the United States dollar to N1,234 at the official foreign exchange market on Monday, April 22.
This indicates a decline of N65 or 5.26 per cent from the previous rate of N1,169.99/$1 recorded on Friday, April 19.
days earlier, on Wednesday, the local currency had strengthened to around N1,072.74, with traders anticipating a potential drop below N1,000/$1 for the first time in months.