Nigeria, Jan. 22 -- At the official foreign exchange market, the naira closed Wednesday's session at N1,423 per dollar, indicating a mixed performance this week even as strong pressure persists in the parallel market, where the currency weakened to N1,486 per dollar.



Figures from the Nigerian foreign exchange market indicate the naira traded at N1,420.5 on Monday, edged to N1,420 on Tuesday, then declined to N1,423 on Wednesday. On both Monday and Tuesday, the parallel market stayed at N1,483, then by midweek it dropped somewhat to N1,486, showing continuing unmet demand beyond the official window.



Although the difference between the two markets has reduced to N63 from N73 last week, The News Chronicle notes that the spread is st...