The naira continued its downward trend on Tuesday, falling to N1,615 per dollar in the parallel market, a further slide from N1,610 per dollar recorded the previous day.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira depreciated to N1,602 per dollar.
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According to data released by the Central Bank of Nigeria (CBN), the indicative exchange rate rose to N1,602 per dollar, up from N1,596 on Monday, reflecting a N6 loss in value for the local currency.
As a result, the gap between the parallel market rate and the official NFEM rate narrowed slightly to N13 per dollar, compared to N14 per dollar on Monday.
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