The naira recorded another marginal depreciation against the United States dollar at the official foreign exchange window on Tuesday, even as it posted mixed performance across other major currencies.
Data from the Central Bank of Nigeria (CBN) showed that the local currency closed at ₦1,350.74/$1, compared to ₦1,349.67/$1 recorded on Monday. This represents a loss of ₦1.07 against the dollar at the official market.
At the parallel (black) market, however, the naira strengthened slightly, appreciating by ₦5 to trade at ₦1,400/$1, compared to ₦1,405/$1 in the previous session.
The currency also recorded further losses against the British pound, falling by ₦10 to ₦1,890/£1 from ₦1,880/£1 previously. It closed flat against the Canadian dollar at ₦1,100/CA$1.
In contrast, the naira appreciated slightly against the euro, gaining ₦5 to trade at ₦1,615/€1 from ₦1,620/€1.
The mixed movement highlights continued volatility in Nigeria’s foreign exchange market, with pressure still evident at the official window despite brief gains in the parallel market.
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