Olushola Omogbehin
The Naira which was N1,400 per dollar last week Friday, has depreciated yesterday to N1,407 per dollar in the parallel market.
In the Nigerian Foreign Exchange Market, NFEM, the naira depreciated to N1,364 per dollar.
According to data from the Central Bank of Nigeria, CBN, the indicative exchange rate for the naira rose to N1,364 per dollar from N1,361 per dollar last weekend, indicating N3 depreciation for the naira.
The margin between the parallel and official markets widened to N43 per dollar from N39 per dollar last week Friday.
The interbank turnover at NFEM fell by 55.5 percent to N39.6 million yesterday from N89.03 million last weekend.
