The naira, on Monday, October 5, dropped further against the dollar at the parallel market.
The naira lost N1.50 to the dollar, as it was traded at N225.5 to the dollar at the market on Monday afternoon. This is against the N224 to the dollar recorded on Friday, October 2.
The official interbank rate also fell by 0.05 to N196.95 to the dollar.
Traders at the parallel market stated that the depreciation of the naira at the market was as a result of insufficient quantity of dollar at the market.