Naira depreciates further at jparallel market

The naira further depreciated against the dollar at the parallel market this week, losing N2 to the dollar on Friday.

It was traded at N226 to the dollar in Lagos on Friday, down from N224 last week.

The naira was, however, stable against the dollar at the interbank at N197.

Traders said that the market appeared to have defied regulatory policies targeted at saving the naira from further depreciation.