Naira Gains at Parallel Market but Slips at Official FX Window

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The naira strengthened against the dollar in the parallel market on Tuesday, trading at N1,389 per dollar. This was an improvement from the N1,400 rate recorded on Monday.

However, the currency took a different turn at the official Nigerian Foreign Exchange Market, NFEM. There, the naira depreciated to N1,356.5 per dollar.

The mixed performance shows the ongoing gap between the two FX windows, as market forces continue to shape rates differently across segments.

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