Naira falls again to N1,150/$1 at parallel market

The Naira on Wednesday depreciated against the US dollar at the foreign exchange market for the second time running.

Official data from FMDQ showed that the country’s currency depreciated to N840.53 against the dollar at the close of work on Wednesday compared to N830.97 the previous day.

The depreciation represent  a N9.56 depreciation compared to the exchange rate at the close of work on Tuesday.

This is the second time the country’s currency has depreciated on the official FX market since last week.

Similarly, at the Parallel Market, Naira exchanged at N1,150/$1 on Wednesday from N1,130/$1 on Tuesday.