On Tuesday, Nigeria’s currency, the naira, experienced continued depreciation against the dollar in the foreign exchange market.
Official data from FMDQ revealed that the naira closed at N830.97/$1 at the end of the trading day on Tuesday, compared to N750.15 on Monday.
DailyPost reported that the figure represents an N80.82 depreciation compared to the exchange rate at the close of work on Monday.
This is the first time the country’s currency has depreciated on the official mFX market since last week.
Meanwhile, the parallel market maintained stability, exchanging for N1,130/$1 on Tuesday at a similar rate to Monday.