The Nigerian naira recorded a slight depreciation against the United States dollar on Tuesday, weakening to N1,380 per dollar in the parallel market from N1,376 traded last weekend.
The local currency also lost value at the Nigerian Foreign Exchange Market, where it closed at N1,377 per dollar.
Data released by the Central Bank of Nigeria showed that the indicative exchange rate at the official market rose from N1,375 per dollar last Friday to N1,377 per dollar, reflecting a N2 depreciation for the naira.
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As a result, the gap between the official and parallel market exchange rates widened to N3 per dollar from N1 recorded over the weekend.
Meanwhile, turnover in the interbank foreign exchange market dropped by 10.5 per cent, falling to $55.8 million from $62.34 million recorded last weekend.
Analysts attributed the slight depreciation to pressure from demand for foreign exchange and reduced market activity in the interbank segment.
