The Nigerian naira weakened against the US dollar on Monday, falling to N1,382 per dollar in the parallel market from N1,378/$ recorded at the weekend.
Similarly, the naira depreciated to N1,331.50/$ in the Nigerian Foreign Exchange Market (NFEM), compared with N1,330/$ previously, according to data from the Central Bank of Nigeria (CBN).
The development widened the gap between the parallel and official exchange rates to N50.50 per dollar, up from N48/$ last Friday.
Meanwhile, trading activity in the NFEM declined sharply, with interbank turnover falling by 77.7 per cent to $24.73 million, compared with $111.06 million recorded at the weekend.
The latest figures indicate continued pressure on the naira amid reduced foreign exchange market turnover.
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