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Naira depreciates by N1, falls to N368 per dollar

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naira and dollarNaira depreciated on Tuesday to N368 to a dollar in the parallel market as a result of excess demand.

Survey showed that exchange rate in the parallel market rose from N367 to N368 to a dollar on Monday, implying that naira has depreciated by N1, as against its appreciation of 50 kobo Monday.