Naira weakens to N1,600/$ in parallel market

The Naira depreciated on Tuesday to N1,600 per dollar in the parallel market, down from N1,590 per dollar last weekend. In contrast, the Naira appreciated to N1,579.22 per dollar in the Nigerian Autonomous Foreign Exchange Market. NAFEM is the trading segment for investors, exporters, and end-users where forex transactions are conducted at exchange rates determined