The naira weakened slightly against the US dollar on Tuesday in the official foreign exchange market as trading activity declined.
Data published by the Central Bank of Nigeria showed that the naira depreciated by N4.75, with the dollar quoted at N1,364.89 at the Nigerian Foreign Exchange Market, compared with N1,360.14 on Monday.
The Tuesday rate represents a 0.35 per cent decline in the value of the naira against the dollar.
In the parallel market, the naira remained unchanged at N1,425 per dollar.
Trading activity at the interbank segment also declined sharply. Total turnover fell 86.41 per cent to $29.06m on Tuesday from $213.85m recorded on Monday.
