Again, Naira depreciates in parallel market, trades at N1,668/$

The Naira has suffered another decline in the parallel market, trading at N1,668 per dollar yesterday, compared to N1,600 per dollar on Wednesday.

This depreciation marks a significant setback in the currency’s value in the unofficial market.

In contrast, the Naira strengthened in the official foreign exchange market, appreciating to N1,534.6 per dollar

As a result of these shifts, the disparity between the parallel market rate and the official rate expanded significantly. The margin widened to N133.4 per dollar yesterday, up from N55 per dollar earlier in the week.

Source: tribuneonlineng.com

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