The Naira Wednesday continued its downward fall exchanging at N1, 595per dollar in the parallel market from N1,585 per dollar on Tuesday.
Also, the Nigerian currency witnessed similar pattern at the Nigerian Autonomous Foreign Exchange Market, NAFEM, trading at N1,596.52 per dollar.
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,596.52 per dollar from N1,601 per dollar on Tuesday, indicating N5.48 depreciation for the naira.
The volume of dollars traded in the market increased by 51.7 percent to $93.92 million from $61.9 million traded on Tuesday, thus, reducing the margin between the parallel market and NAFEM rate to N1.52 per dollar from N16 per dollar on Tuesday.