The local currency has depreciated to N1,510 against the dollar at the parallel section of the foreign exchange (FX) market.
The present foreign exchange rate shows a fall of 0.33 percent from the N1,505/$ reported on May 22.
Currency traders, popularly known as street traders, in Lagos, quoted the buying rate of the naira at N1,485/$ and the selling rate at N1,510/$, leaving a profit margin of N25.
At the official window, the naira gained by 0.19 percent against the dollar from N1,485.66/$ on May 23 to close at N1,482.81 on Friday.
According to FMDQ Exchange, a platform that oversees the official window, a dollar was sold as high as N1,511 and at a low rate of N1,400 during trading hours.
The daily foreign exchange market turnover was $556.25 million.
