Naira strengthens at Official Market, Weakens on Black Market – Reports

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The naira has continued to show mixed performance against the dollar, strengthening at the official foreign exchange market while depreciating on the black market.

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At the official market, the naira appreciated to ₦1,533.18 per dollar on Tuesday, up from ₦1,534.21 the previous day, representing a gain of ₦1.03. This marks the second consecutive day of appreciation at the official FX market.

However, on the black market, the naira further depreciated to N1,545 per dollar on Tuesday from N1,537 on Monday.

The mixed performance reflects the ongoing dynamics in Nigeria’s foreign exchange market, with varying exchange rates at official and parallel markets

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