The Naira continued its downward trend on Tuesday, falling to N1,615 per dollar in the parallel market, a greater sliding of N1,610 per dollar recorded the previous day.
Similarly, in the Nigerian currency market (NFEM), the Naira depreciated N1,602 per dollar.
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According to data published by the Central Bank of Nigeria (CBN), the indicative exchange rate increased to N1,602 per dollar, compared to N1,596 on Monday, which reflects a loss of N6 in value for the local currency.
As a result, the gap between the parallel market rate and the official NFEM rate was slightly reduced to N13 per dollar, compared to N14 per dollar on Monday.
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