The naira has further weakened against the dollar in the official foreign exchange arena for the second successive time this week.
Data from the Central Bank of Nigeria revealed that the nation’s currency, the naira, settled at N1,537.09 against the dollar on Tuesday, rising from N1,535.92 registered on Monday.
This indicates that the naira has further diminished by N1.17 against the dollar on a day-to-day scale.
Meanwhile, within the black market, the naira held steady at N1,570 per dollar on Tuesday, maintaining the same rate observed on Monday.
Over the past two days of this week, the naira has suffered a loss of N3.53 against the dollar.
This trend unfolds despite Nigeria’s foreign reserves climbing to an impressive $40.29 as of August 8, an increase from $39.36 at the close of the previous month, 2025.
