Naira recorded yet another downward position to 1,120 per dollar at the parallel market on Tuesday.
While it traded N1,025 on Monday, the downward spiral figure represents a N95 or 9.27 percent depreciation compared to the Monday’s price.
Parallel market traders ramped a profit margin of N20 after pegging the buying price of the dollar at N1,100 and the selling price at N1,120.
Meanwhile, at the investors and exporters (I&E) window, the local currency depreciated by N60.89 or 7.53 percent against the dollar to close at N869.91 on Tuesday — from N809.02 on Monday.
The greenback’s highest rate for the day was N1,100 and its lowest intra-day price was N700, according to FMDQ Securities Exchange – a platform that oversees foreign exchange trading in Nigeria