Naira, on Wednesday, lost 1.04 percent of its value on parallel market as foreign exchange (FX) awaits retail dollar sales through Dutch auction system by Central Bank of Nigeria (CBN).
Gatekeepers News reports that Naira traded at N1,620 per dollar on Wednesday compared to N1,603/$1 traded on Tuesday at parallel market.
According to readers; there was strong demand from individuals who want to travel abroad for summer holidays.
CBN planned to sell dollars in a retail auction which aims at easing the mounting pressure on naira and stabilising the foreign exchange market, this week.
Data from FMDQ Securities Exchange Limited showed that Naira gained 0.38 percent at Nigerian Foreign Exchange Market (NAFEM) as dollar closed at N1,601 on Tuesday from N1,607.15 on Monday.
Dollar supplied by willing sellers and willing buyers declined to $61.90 million, lowest since January.
