The naira experienced a slight decline against the US dollar in the official foreign exchange market on Tuesday, according to data from FMDQ.
The naira depreciated to N1,537.03 per dollar, down from N1,536.58 on Monday, reflecting a marginal decrease of N0.45.
However, the naira remained stable on the black market, closing at N1,665 per dollar, the same rate as on Monday.
Over the last two days, the official exchange rate has seen a total decline of N2.65 per dollar. In contrast, the parallel market has remained relatively stable.
In his 2025 budget proposal, President Bola Ahmed Tinubu set the exchange rate at N1,500 per dollar.
