Business
Naira Weakens Further as Dollar Demand Surges in Black Market
The Nigerian Naira experienced a further decline against the U.S. dollar in the parallel foreign exchange market on Tuesday, marking the second consecutive drop in recent days. According to a Bureau De Change operator in Wuse Zone 4, Abuja, the Naira weakened to N1,580 per dollar on Tuesday, down from N1,570 on Monday, indicating a N10 depreciation.
In the official foreign exchange market, the Naira also depreciated, closing at N1,503.07 per dollar on Tuesday, compared to N1,499.78 on Monday, reflecting a loss of N3.29.
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