Naira drops against dollar amid fresh fuel price hike

The naira depreciated significantly against the dollar at the foreign exchange market as the Nigerian National Petroleum Company Limited, NNPCL, increased the pump price of Premium Motor Spirit (petrol) for the umpteenth time. FMDQ data showed that the naira weakened to N1625.13 per dollar on Wednesday from N1561.76 exchanged on Tuesday. This represents an N63.37 [...]Naira drops against dollar amid fresh fuel price hike

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