The naira depreciated on the shut of buying and selling on the official FMDQ FX buying and selling platform on Monday by 1.60 per cent to shut at N1,533.73 per greenback.
It opened buying and selling at 1531.50 per greenback.
The drop, based on FX analysts, will need to have been a results of strain when the greenback was effectively wanted on the weekend.
Sellers additionally attributed the drop to the insurance policies of Donald Trump’s administration and his posture of strengthening the greenback.
The drop, based on analysts, should even be because of the perceived sturdy consideration of traders in the direction of funding within the United States in opposition to different markets.
