Naira depreciates against Dollar, Euro at parallel market

The Naira on Wednesday exchanged for N322 to the Dollar at the parallel market.
The News Agency of Nigeria reports that the Naira lost N0.5 from N321.5 it traded previously.
However, the Pound Sterling and the Euro traded for N450 and N361 respectively, depreciating further against the Euro.
Meanwhile, the official CBN exchange rate remained at N197 to a Dollar.
Traders at the market said that the nation’s currency had remained stable, hovering between N321 to N322 to the Dollar.
They attributed this to slow activities in the market, in anticipation that the signing of the budget into law might affect the foreign exchange market.