The naira lost strength against the dollar on Wednesday at the parallel section of the foreign exchange market, exchanging at N680 to one dollar.
Bureaux De Change operators (BDCS), Lagos, said the local currency depreciated by N15 or 2.3 per cent, trading for N680 per dollar at the “black market’.
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Last week, the naira closed at N665 to a dollar at the street market.
The street traders set the buying price of the dollar at N665 and the selling price at N680, resulting in a profit margin of N15.
