The Nigerian naira continued to depreciate against the dollar at the official foreign exchange market on Tuesday as the Central Bank of Nigeria retained the interest rate at 27.50 percent.
CBN’s exchange rate data showed that it dropped further to N1,535.24 per dollar on Tuesday from N1,532.54 exchanged the previous day.
This means that the naira weakened by N2.70 on a day-to-day basis.
Meanwhile, at the black market, the naira remained flat at N1,540 per dollar on Tuesday, the same exchange rate recorded on Monday.
