Naira weakens further at parallel forex market  

By FELIX OLOYEDE

The pressure continued to mount of the Naira at the parallel foreign exchange market as depreciated by 0.64% to N475 against the Dollar on Tuesday.

It, however, strengthened 0.17% to N394.00/$ at the Investors’ and Exporters’ window as the Central Bank continued to defend the local currency.

The market turnover at the NAFEX was at $36.07 million, according to information obtained from the FMDQ website, an integrated market infrastructure group.

Financial experts have been calling the CBN to float the Naira and allow market forces to determine its actual value.