Naira Slips to N1,334/$ Amid Sharp Rise in Interbank Turnover

The Nigerian naira weakened by N11.10 against the US dollar in the interbank foreign exchange market on September 9, closing at N1,334/$ compared to N1,322.90/$ recorded on Tuesday.

This decline represents a 0.84% depreciation in the exchange rate, marking a reversal from the naira's recent gains in the Nigerian Foreign Exchange Market (NFEM).

Interbank foreign exchange turnover rose sharply to $94.43 million, up from $55.60 million recorded the previous day, representing a 69.82% increase.