Naira down to N1,405/$ in parallel market

The naira depreciated to N1,405 per dollar in the parallel market yesterday, down from N1,389 on Tuesday. In the official Nigerian Foreign Exchange Market (NFEM), it fell to N1,361.5 per dollar. The gap between the parallel and official markets narrowed to N43.5 per dollar. Interbank turnover dropped by 56.8% to $54.3 million.