Naira depreciates again at parallel market

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The Naira on Monday further slided at the parallel market as it exchanged for N227 to the dollar, as against the N226.5 it traded previously.

The News Agency of Nigeria (NAN) reported that the official interbank rate, however, remained at N197.

Traders at the market attributed the slide in the price of the naira to insufficient forex at the parallel market.

They said that the naira might strengthen against the dollar after the apex banks’ sale of forex on
Wednesday.

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