The naira fell to N1,165 per dollar on Thursday in the parallel section of the foreign exchange (FX) market.
The figure represents a N5 or 0.43 per cent decrease from the N1,160 it traded for on Tuesday.
Currency traders in Lagos, also known as Bureau De Change operators (BDCs), told TheCable that the buying rate of the greenback was N1,155 and the selling price was N1,165, leaving a profit margin of N10.
On the official market, the naira fell 0.10 per cent to N832.32 per dollar on Thursday, after closing at N831.47 at the close of trading on Wednesday.
According to data from the FMDQ Securities Exchange, a platform that oversees official FX trading in Nigeria, the naira reached an intraday high of N1,137 and a low of N700.
The Central Bank of Nigeria (CBN) directed all banks on Wednesday to accept old and redesigned naira notes indefinitely.
After the Supreme Court ruled that both notes should be legal tender, the apex bank issued the directive.
Lateef Fagbemi, the Attorney-General of the Federation (AGF), stated in the new application that due to the current economic crisis, the CBN has not been able to print the volume of new notes required to phase out old currency notes by December 31.
