Not Again!!! Naira Depreciates To N230/Dollar In Parallel Market

Yesterday, the declining fortunes of the naira in the parallel market worsened as it lost N4 against the dollar with the market exchange rate closing at N230 per dollar. Consequently, the naira has depreciated by N10 against the dollar since last Tuesday when the Central Bank of Nigeria, excluded importation of rice, cement and other 39 items from the foreign exchange market.