The Naira on Monday depreciated further against the dollar at the parallel market.
The Nigerian currency exchanged at N380
to the dollar, from N378 it traded on Friday, while it exchanged against
the Pound Sterling and the Euro at N495 and N415, respectively.
At the Bureau De Change segment of the
market, the currency exchanged at N378 for the dollar, N490 for the
Pound and N413 against the Euro.
It, however, appreciated at the interbank segment as it closed at N316.37 from N319.70 it posted on Friday.
Meanwhile, traders at the market said that the scarcity of the greenback was stifling activities at the market.
They urged the Central Bank of Nigeria to intervene in the foreign exchange market to ensure greater stability of the naira.