The naira on Wednesday depreciated to N1,458.02 against the United States dollar in the Nigerian Foreign Exchange Market (NFEM)
The naira also dropped to N1,492 per dollar in the parallel market from N1,485 per dollar recorded on Tuesday.
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Data from the Central Bank of Nigeria (CBN) showed that the exchange rate for the local currency rose to N1,458.02 per dollar from N1,457 per dollar on Tuesday, indicating a N1.02 depreciation for the currency.
The margin between the parallel and official market widened to N31.98 per dollar from N28 per dollar on Tuesday.
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