The naira, on Wednesday, depreciated further against the dollar at the parallel section of the foreign exchange market.
Bureaux De Change operators in Lagos quoted the naira at N578 to the
dollar at the street market.
The figure is N1 or 0.2 percent lower than the N577 it traded two weeks
ago.
A parallel market is characterised by noncompliant behaviour with an
institutional set of rules.
The Central Bank of Nigeria, CBN, has often maintained that the
parallel market is not the true reflection of the naira.
On the official market side, the local currency closed flat against the
dollar on Tuesday at N416.67.
