The naira continued its downward slide against the US dollar on Tuesday as it traded at an average of N725/$1 at the parallel market (black market) on Tuesday.
Checks with some traders in Lagos showed that the parallel market exchange rate was N725/$1 while at the popular Zone 4 parallel market in Abuja, traders said it was exchanging at N722/$1, after closing at N720/$1 on Monday.
At the Investors and Exporters window the exchange rate closed at N436/$1, representing a difference of N286/$1.
The Naira has continued to fall since the beginning of the year, after closing 2021 at N565/$1.
