The naira yesterday lost 36 kobo to the dollar in the interbank foreign exchange market while it lost six kobo at the WDAS session on Monday in spite of decline in demand.
From N150.314 at the close of business on Friday, the interbank exchange rate rose to N150.7 per dollar yesterday owing to demand pressure.
Analysis of the WDAS session conducted by the Central Bank of Nigeria (CBN) on Monday show that though demand dropped by 11 per cent to $277 million from $308 million in the last auction on Wednesday, the exchange rate still rose to N148.41 per dollar from N148.35 per dollar.
This represents the third consecutive depreciation of the naira in two weeks. Last week. The naira depreciated by five kobo last week Monday as well as on Wednesday due to increased demand pressures.