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Naira Slips Again at Official FX Market
The naira depreciated for the second consecutive day against the dollar at the official foreign exchange market on Tuesday, according to data from the Central Bank of Nigeria. The local currency closed at N1,549.04 per dollar, a slight drop from Monday’s rate of N1,548.52, marking a day-to-day decline of 52 kobo.
In contrast, the naira remained stable in the parallel market, where it traded at N1,595 per dollar for the second day in a row. The continued pressure on the naira at the official window comes after it also weakened on Monday, despite a gain in the black market.
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