The Naira experienced a mixed performance on Tuesday, sliding further in the black market while making a marginal recovery at the official exchange.
Currency traders in Abuja reported that the Naira weakened to N1,515 per dollar at the parallel market, marking a drop from Monday’s rate of N1,506—an overall decline of N9 in a single day.
Conversely, the official market saw a modest improvement. Data from the Central Bank of Nigeria revealed that the Naira edged up to N1,491.67 per dollar on Tuesday, compared to N1,492.49 the previous day—an appreciation of N0.82.
This fluctuation underscores the ongoing instability of the Naira across forex markets, with volatility persisting over recent days.
Monday had already set a bearish tone for the currency, as it depreciated across multiple FX trading platforms, signalling a rough start to the week.
