Tag: depreciates
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Naira ends one-week rally, depreciates to N790/$ at parallel market
The improving fortune of the naira at the parallel market was reversed on Tuesday as the local currency depreciated to N790 per dollar. The figure represents a depreciation of N80 or 11.3 percent from the N710 it traded on Friday morning. The development is in sharp contrast to the N175 appreciation recorded a week ago when…