The naira experienced a slight decline in value on Tuesday, falling to N1,615 per dollar in the parallel market, down from N1,610 per dollar recorded on Monday.
Similarly, the Nigerian Foreign Exchange Market saw the naira weaken to N1,602 per dollar.
According to figures released by the Central Bank of Nigeria, the official exchange rate climbed to N1,602 per dollar, compared to N1,596 per dollar the previous day,reflecting a depreciation of N6.
As a result, the disparity between the parallel market rate and the NFEM rate narrowed to N13 per dollar, a slight improvement from Monday’s N14 difference.
Tags: Naira depreciates
