Naira Falls to N1,400 at Parallel Market but Gains in Official Window

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The naira weakened against the dollar in the parallel market on Tuesday. It traded at N1,400 per dollar, down from N1,390 recorded last weekend.

But the story was different in the official market. The naira appreciated to N1,356 per dollar in the Nigerian Foreign Exchange Market, NFEM.

Data from the Central Bank of Nigeria, CBN, showed the indicative exchange rate dropped to N1,356 per dollar from N1,365.4 last weekend. That represents a N9.4 gain for the naira in the official window.

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