The Naira has depreciated further at
the parallel market amid expectations of an intervention by the apex bank in
the foreign exchange market.
The Naira on Friday afternoon
exchanged for N310 to the dollar from N307 it traded for previously
with a depreciation of 1 per cent.
with a depreciation of 1 per cent.
It,
however, maintained N197 to the dollar at the official Central Bank of
Nigeria’s (CBN) window.
Traders at the market said the
demand for the greenback had forced it to fall further in value in spite of
insinuations of an intervention at the foreign exchange market by the CBN.
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