The Naira weakened further on Tuesday, dropping to N1,620 per dollar in the parallel market, compared to N1,615 per dollar the previous day.
In the official Nigerian Foreign Exchange Market (NFEM), the currency also lost value, trading at N1,590 per dollar. This marked a N7 drop from Monday’s rate of N1,583, according to figures released by the Central Bank of Nigeria (CBN).
As a result of these changes, the gap between the parallel market and the NFEM rates slightly narrowed. The difference now stands at N30 per dollar, down from N32 on Monday.
