The Naira depreciated further on Wednesday, falling to N1,595 per dollar in the parallel market, down from N1,590 per dollar the previous day.
In the Nigerian Autonomous Foreign Exchange Market, NAFEM, the Naira also weakened, closing at N1,586.04 per dollar compared to N1,582.09 per dollar on Tuesday, reflecting a N3.95 depreciation.
Data from FMDQ revealed that the volume of dollars traded in the market dropped sharply by 54 percent, sliding to $92.39 million from the $201.43 million recorded on Tuesday.
As a result, the gap between the parallel market and NAFEM rates widened, increasing to N8.96 per dollar from N7.91 per dollar the day before.
(allnews.ng)
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