Naira depreciates further at parallel market

The Naira on Wednesday depreciated further at the parallel market, exchanging for N322 to the dollar.
The News Agency of Nigeria reports that the naira lost N1 from the N321 it traded on Monday.
Also the naira traded at N465 and N365 against the Pound Sterling and the Euro respectively from the N467 and N365 it exchanged on Monday.
Meanwhile, the naira continued to exchange at N197 to the dollar at the official Central Bank of Nigeria rate.
Traders at the market said that they were still awaiting the impact of the passage of the 2016 budget at the market.
They, however, decried the scarcity of the greenback as they were finding it difficult to meet the demands of their customers.
NAN.