The naira on Thursday continued to depreciate, trading at N1,620 to a US dollar at the parallel section of the foreign exchange (FX) market.
This represents a depreciation of 0.3 per cent from the N1,615 per dollar traded the previous day.
Bureau de Change (BDC) operators said the buying rate of the naira on Thursday was N1,600/$ and the selling rate at N1,620/$ — leaving a profit margin of N20.
At the FMDQ Exchange, a platform that oversees official FX trading in Nigeria, the naira appreciated to N1,566.82/$ on Thursday — a 0.94 per cent decline from N1,581.65 traded the previous day
The local currency traded at a high of N1,620 and a low of N1,500.
