With the naira trading at N1,416.57 to the dollar on Tuesday, it lost value on the official market.
The Nigerian Naira lost N62.36, according to data from the FMDQ Exchange, the official trading platform that regulates the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Comparing this to the previous trading date on Monday, when it traded at N1,354.21 to the dollar, indicates a 4.60 percent loss.
On Tuesday, however, the overall daily turnover rose to 160.77 million dollars, from Monday’s recorded 84.83 million dollars.
In the meantime, the value of the naira against the dollar fluctuated between N1,445 and N1,301 during the Investors and Exporters (I&E) window.