The Naira depreciated against the dollar at the official foreign exchange market on Tuesday.
The Central Bank of Nigeria’s data showed that the Naira weakened on Tuesday at N1,357.18, down from N1,356.27 it traded on Monday.
This means that the Naira dropped by N0.90 to the dollar on a day-to-day basis.
Meanwhile, on the black market, the Naira remained flat at N1395 per dollar on Tuesday, the same rate as exchanged the previous day.
The mixed sentiments across official and parallel foreign exchange markets come as the country’s external reserves stand at $50.81 billion as of June 15th, 2026.
Recall that the local currency appreciated against the dollar at the official foreign exchange market on Monday to begin the week on a good note.
