The naira, on Thursday, dipped further to a new low of N1,152 per dollar in the parallel market.
The Nigerian currency depreciated by 10 percent compared to the N1,065 reported on Wednesday.
Bureau De Change (BDC) operators in the Lagos state, disclosed that the decline in the naira occurred as the greenback scarcity worsened.
In the official window, known as the Nigerian foreign exchange market (NFEM), the local currency appreciated by 6.76 percent to N790.68/$, against Tuesday’s closing rate of N848.
According to data from FMDQ Exchange, a platform that oversees foreign exchange (FX) trading in Nigeria, the greenback recorded an intra-day high of N986 and a low of N701.
The data showed that a total value of $69.88 million in foreign exchange was transacted in NFEM, formerly investors’ and exporters’ (I&E) window.
The forex transaction by authorised traders and their clients fell by $64.4 million or 47.9 percent from $134.28 million traded on Tuesday.
