The naira recorded a slight decline on Tuesday, weakening to N1,420 per dollar in the parallel market from N1,415 traded on Monday.
Similarly, the local currency depreciated in the Nigerian Foreign Exchange Market (NFEM), settling at N1,387 per dollar.
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Figures from the Central Bank of Nigeria showed that the indicative exchange rate rose marginally from N1,386.75 on Monday to N1,387, reflecting a 25 kobo depreciation.
As a result, the gap between the parallel market and the official rate widened to N33 per dollar, up from N28.25 recorded the previous day.
