At the end of trading on Tuesday, the naira continued on a negative trajectory at both the Official and parallel markets.
The naira further depreciated to N1,536.15 per dollar on the Nigerian Foreign Exchange Market (NFEM), according to data from the Central Bank of Nigeria (CBN).
This represents a notable decline from the N1,530.15 per dollar that the local currency had exchanged for on Monday, amounting to a loss of N6.
The parallel market mirrored this decline, with the naira plummeting to N1,580 per dollar, down from N1,570 per ddollaron Monday.
As a result, the gap between the parallel market rate and the NFEM rate has widened to N44 per dollar.
