Naira Weakens Further Against Dollar as Depreciation Continues for Second Day

The Naira continued its downward slide against the dollar on Tuesday, marking the second consecutive day of depreciation in the parallel foreign exchange market.

A Bureau De Change operator in Wuse Zone 4, Abuja, confirmed  that the local currency slumped to N1,580 per dollar, weakening further from N1,570 recorded on Monday—a N10 decline within a day.

Similarly, at the official foreign exchange market, the Naira slipped to N1,503.07 per dollar on Tuesday, falling from N1,499.78 on Monday, reflecting a N3.29 drop.

 Earlier reported that the Naira had also depreciated on Monday in the black market, signaling ongoing forex instability.