Nigeria’s naira to dollar exchange rate weakened for the second day at the parallel or black market on Tuesday, March 9, 2021.
At the parallel market/black market, the naira to dollar exchange rate depreciated and closed at N484 to one dollar compared to N480 to one dollar rate it had maintained since last week.
The closing rate indicated that naira depreciated in value by N2 as against N482 the previous day..
Naira traded for N415 at the Investors and Exporters window before closing at N412 on Tuesday.
This is a slight depreciation compared to a rate of N411.88 per dollar in the previous day.
This represents about 0.03 per cent depreciation of the currency.
The closing rate indicated that the exchange rate differential between NAFEX market and parallel market is N72
