Naira depreciates further at the parallel market

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(Nigeria) The naira on Friday depreciated further against the dollar when it lost N0.5 to the dollar as it exchanged for N225.5 as against the previous N225 at the parallel market
Meanwhile, the official rate at the interbank window remained at N197.
Despite the bi-weekly sale of forex to operators of Bureau de Change, BCD, by the Central Bank of Nigeria, CBN, the naira continued to depreciate.
Traders at the parallel market said the continued demand for dollar by importers was exerting pressure on the currency of the largest economy in Africa.

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