TheCable

The naira depreciated against the dollar at the parallel market on Wednesday in spite of the sale of foreign currency to operators of Bureau de Change (BDC)

The naira lost N1.00 to the dollar on Wednesday afternoon as it traded N225 to the dollar as against N224 on Tuesday.

Meanwhile the official interbank rate maintained its value at N197 to the dollar.

Traders at the parallel market told NAN that they had expected the naira to rebound after Central Bank’s sale of foreign currency to BDC operators.