According to FMDQ data, the official foreign exchange market saw the Naira fall against the Dollar on Tuesday for the first time in two weeks.
On Tuesday, the Naira depreciated to N1,582.09 per Dollar from N1,570.99 on Monday, marking a loss of N11.1.
Meanwhile, the Nigerian currency strengthened by N2 to close at N1,598 per Dollar on the black market on Tuesday, a positive change from N1,600 the previous day.
This marks the first Naira appreciation on the black market since Tuesday, August 2, 2024, when it traded at N1,617.08 per Dollar.
Furthermore, this marks the first bearish trend recorded on the forex market since the Central Bank of Nigeria began its Dutch Auction System last Tuesday.