Business AGAIN: Naira depreciates against dollar

[ProfRem]

After making a rebound on Monday at the parallel market, the Naira has crashed against the dollar on Wednesday again. The currency lost N1 to the dollar at it exchange for N225 against N224 the previous exchange rate and N350 and N256 against the Pounds and Euro, respectively.

According to traders at the parallel market, who spoke with NAN in Lagos, the demand for the dollar had been putting pressure on the Naira, thereby forcing it to depreciate in value.