Naira depreciates to N970/$ in parallel market

The naira yesterday depreciated to N970 per dollar in the parallel market from N955 per dollar on Tuesday. 

 However, the naira appreciated in the Investors and Exporters, I&E, window yesterday to N776.6 per dollar.

 Data from FMDQ showed that the indicative exchange rate for the I&E window fell to N770.71 per dollar from N776.6 per dollar on Tuesday, indicating N5.89 depreciation for the naira.

 Consequently, the gap between the official and parallel market exchange rates widened to N199.29 per dollar yesterday from N178.4 per dollar on Tuesday.

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