The Nigerian naira has continued its depreciation streak against the US dollar, falling to N1,402 at the official market.

This represents a 0.86% decrease from the previous close at N1,390 of trading activity on Tuesday.

The depreciation is attributed to renewed demand for the greenback at both the official and parallel markets.

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Additionally, Bureau De Change operators have reported a reduction in the value of the naira at the parallel market.

Despite this, dollar supply at NAFEX rose by 3.1% to $232 on Thursday from $225.36m recorded on Tuesday.

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