Naira depreciates to N1,340/$ at official market, weakens to N1,400/$ in parallel

The naira depreciated to N1,340/$ at the official market on Wednesday, down from N1,337/$ recorded on Tuesday.

This is according to data published on the website of the Central Bank of Nigeria.

The data also showed that the local currency traded within a band of N1,328/$ to N1,340/$ during intraday activity, with a simple average rate of N1,337.17/$.