Lagos - Due to an increase in demand for the dollar, the naira posted a loss against the greenback on Monday at Interbank Foreign Exchange market.
The Nigeria’s currency weakened by 35 kobo to N162.25 to a dollar, reports ThisDay.
The drop was caused by the high demand for the American currency from importers, who wanted to take advantage of its recent appreciation against the greenback.
The naira was traded for N161.90 to a dollar last Friday.
Read more at ThisDay.
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