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Nigeria’s currency, the naira, weakened against the dollar in the official foreign exchange market on Tuesday, following gains made just 24 hours prior.
According to data from the Central Bank of Nigeria, the naira’s value fell to N1,529.22 against the dollar on Tuesday, down from N1,528.33 on Monday. This marks a daily depreciation of N0.89 against the dollar.
In the black market, the naira’s rate against the dollar held steady at N1,550 on Tuesday, matching Monday’s rate. It is worth noting that the naira had seen appreciation across both foreign exchange markets on Monday. For context, the naira’s average rate in the official market during the first half of 2025 stood at N1,556 per dollar.
