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| Dollar to naira |
The naira depreciated further on Tuesday, falling to ₦1,598 per US dollar in the parallel market, compared to ₦1,585 recorded the previous day.
Similarly, in the Nigerian Foreign Exchange Market (NFEM), the naira dropped to ₦1,547.50/$, down from ₦1,543/$ on Monday—reflecting a ₦4.50 loss, according to data from the Central Bank of Nigeria (CBN).
As a result, the exchange rate gap between the official and parallel markets widened significantly, increasing to ₦50.50 from ₦26 just a day earlier.
