By Ihechi Enyinnaya
The naira took a plunge against the U.S. dollar at the official market on Thursday, closing at N411.67 per $1, even as it remained stable at the parallel market.
According to the data posted on the FMDQ Security Exchange, this implies a N0.17 or 0.04 per cent devaluation from N411.50 the rate it traded in the previous session on Wednesday.
This occurred as forex turnover dipped slightly from what was recorded in the previous session on Wednesday.
The Forex turnover at the Over-the-Counter (OTC) market segment increased by 43.21 per cent with $109.47 million posted as against the $192.75 million recorded in the previous session on Wednesday.
The domestic currency experienced an intraday low of N420.80 and a high of N401.00 before closing at N411.67 on Thursday.
The last time the currency traded at N411.67 on the dot was on June 21.
Meanwhile, the naira remained stable against the U.S dollar at the parallel market, data posted on abokiFX.com, a website that collates parallel market rates in Lagos showed.
Data posted showed that the local unit exchanged hands with the greenback currency again at N500.00 per $1 on the dot at the black market on Thursday.