By Our Reporter
The Nigerian currency, the naira, depreciated to ₦1,410 per dollar in the parallel market on Wednesday, down from ₦1,405 recorded a day earlier.
Similarly, the naira weakened in the Nigerian Foreign Exchange Market, trading at ₦1,391 per dollar.
Data released by the Central Bank of Nigeria showed that the indicative exchange rate rose from ₦1,383.5 to ₦1,391 per dollar, indicating a depreciation of ₦7.5.
As a result, the gap between the parallel market and the official exchange rate narrowed to ₦19 per dollar, compared to ₦21.5 recorded on Tuesday.