The naira on Tuesday depreciated to N1,598 per dollar in the parallel market, sliding further from N1,585 per dollar recorded on Monday.
Similarly, the local currency weakened in the Nigerian Foreign Exchange Market (NFEM), where it closed at N1,545.27 per dollar.
Data published by the Central Bank of Nigeria (CBN) showed that the exchange rate rose from N1,544.63 per dollar on Monday to N1,545.27 per dollar on Tuesday, indicating a N0.64 loss for the naira at the official window.
Consequently, the margin between the parallel market and the NFEM rate widened to N53 per dollar, up from N26 per dollar recorded on Monday.
