The naira suffered further depreciation on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window on Thursday, closing at N1,603.80/$1.
This is coming about three days after the local currency made impressive gains against the dollar.
Data from the FMDQ Securities Exchange at the close of business on Thursday, showed that the naira depreciated by 1.07 per cent from N1,586.71/$1 recorded on Wednesday.
It also shows that it is the lowest level since March 14, 2024, when it was N1,608.98/$1.
On Thursday, the naira traded at a high of N1,620/$1 and a low of N1,519/$1 as demand pressure intensified.
Meanwhile, there was a decline in foreign exchange (FX) turnover by 23.35 per cent from $171.03 million to $131.09 million on Thursday.
