Naira remained flat against the U.S. dollar at the black market on Tuesday, trading at an average of N756/$1, this is the same rate recorded on Monday.
However, the exchange rate at the cryptocurrency P2P exchange depreciated for the seventh consecutive day on Tuesday, trading at a minimum of N752.25/$1. This represents a 0.37 per cent depreciation from N749.48/$1 recorded on Monday.
Meanwhile, the local currency appreciated against the U.S. dollar at the investors and exporters (I&E) window by 0.11 per cent to close at N461/$1 on Monday, from N461.5/$1 recorded last week Friday.
Forex turnover at the official market increased by 251.70 per cent to $208.91 million on Monday, compared to the $59.40 million that was transacted in the previous session.
Nigeria’s external reserves stood at $36.82 billion as of Thursday, slightly lower than the previous day, representing the fifth consecutive day of decline.