The naira experienced a notable drop in value against the US dollar across both the official and parallel foreign exchange markets this week.
According to data from the Central Bank of Nigeria, the local currency declined to N1,583.73 per dollar on Tuesday, compared to N1,579.40 recorded on Monday.
This indicates a day-to-day depreciation of N4.33 against the dollar in the official foreign exchange market.
In the same vein, the naira also fell in the parallel market, sliding by N2 to N1617 per dollar on Tuesday, down from N1615 on Monday.