The parallel market has responded to the fresh devaluation of the naira amidst growing foreign exchange illiquidity. The local currency weakened to N500/$ at the black market at the weekend. The Central Bank of Nigeria (CBN) had adjusted the value of the naira by N6 against the dollar on Friday. That was the third time…

The observed market sentiment seemed to have been mixed with fears over the flexible exchange rate modalities and when it will be unveiled, as cautious optimism now surrounds trade on the Nigerian currency.