Naira depreciates to N1,425/$ in parallel market
By Elizabeth Adegbesan The naira on Friday depreciated to N1,425 per dollar in the parallel foreign exchange market, compared with N1,422 per dollar recorded on Thursday.
A foreign exchange dealer, Mr Audu Yisa, attributed the pressure on the naira in the parallel market to rising demand and limited availability of dollars.
Danjuma added that the naira had continued to fluctuate around the N1,300 to N1,400 per dollar range in the parallel market in recent weeks.
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