Naira Weakens Again to ₦1,549/$ at Official Market

The naira recorded a second straight day of losses against the U.S. dollar at the official foreign exchange market on Tuesday.

According to data released by the Central Bank of Nigeria, the local currency slipped to ₦1,549.04 per dollar, compared to ₦1,548.52 recorded the previous day—marking a marginal decline of ₦0.52.

In contrast, exchange rates in the parallel market held steady, with the Nigerian currency trading at ₦1,595 per dollar on Tuesday, unchanged from Monday’s rate.

On Monday, the naira had also weakened at the official window but managed to appreciate slightly in the black market, reflecting ongoing volatility in the currency’s performance across market segments.