The naira, on Friday, dropped to a new low of N1,190 per dollar in the parallel market.
The naira has maintained its downward trend as scarcity of the dollar bites harder.
At the parallel market, naira commenced trading at 1,175/$ and closed at 1,190/$ on Friday.
Two weeks earlier, the naira had traded at 1,100/$ at the parallel market.
It, however, appreciated slightly on the Investor & Exporter forex window after it sold at 808.28/$ at the close of trading on Friday, from 810.05/$ on Thursday, according to figures obtained from the FMDQ.
Some Bureau de Change Operators noted that the dollar was scarce as many did not have forex to sell to customers.
The naira had continued to maintain devaluation following the CBN’s order to the lending institutions to allow the free flow of the country’s exchange rate in June.
Before floating the naira, it traded at the official market on the FMDQ at 471.67/$ and at the parallel market at 765/$ in June.
