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Naira Depreciates Further At Parallel Market

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The Naira on Monday, October 5, 2015 further depreciated against the Dollar at the parallel market.

The Naira lost N1.50 to the Dollar as it was traded at N225.5 to the dollar on Monday afternoon.

This is against the N224 to the Dollar recorded on Friday, October 2, 2015.

Meanwhile, the official interbank rate also dropped by 0.05 to N196.95 to the dollar.

Traders at the parallel market attributed the depreciation of the Naira at the market to insufficient quantity of Dollars at the market.

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