Lagos, Sept. 11, 2024 – The Naira depreciated against the dollar at both the official and the black market segments of the foreign exchange market on Tuesday.
The naira closed at N1,637.59 to the dollar at the official AFEM on Tuesday from N1,580.46 it closed on Monday.
The currency also slumped at the black market to N1,660 to the dollar on Tuesday from N1,655 on Monday.
Yesterday’s depreciation of the exchange rate was in spite of the $20,000 allocated to each of the authorised Bureau D’change dealers announced by the Central Bank of Nigeria (CBN) on Friday.
The allocation was intended to stabilise the foreign exchange market and improve the fortune of the naira in the market. (GBN)
