NAIRA DEPRECIATES FURTHER AGAINST DOLLAR, PARALLEL MARKET HITS N1,420
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The Nigerian naira weakened further yesterday, trading at N1,420 per dollar in the parallel market, up from N1,415 per dollar on Monday.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira slipped to N1,387 per dollar, compared with N1,386.75 per dollar the previous day.
Data from the Central Bank of Nigeria (CBN) indicated that the naira depreciated by 25 kobo in the official market, widening the gap between parallel and official rates to N33 per dollar, up from N28.25 per dollar on Monday.
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