‎The naira falls barely by ₦2.33 towards the US greenback at parallel market however appreciated on the official market on Tuesday, June 3, reflecting ongoing volatility in Nigeria’s overseas trade panorama.

‎Within the black market, forex merchants in Abuja instructed Financial Confidential that the naira was exchanged at ₦1,605/$1 for getting and ₦1,612/$1 for promoting—representing a ₦2.33 depreciation from Monday’s charge of ₦1,610/$1.

‎Conversely, on the official trade window, the native forex recorded a modest appreciation, closing at ₦1,579/$1 on Tuesday, in comparison with ₦1,582/$1 on Monday, based mostly on historic buying and selling knowledge.

‎Regardless of these beneficial properties, the persistent hole between the official and parallel market charges continues to focus on the underlying stress on Nigeria’s foreign exchange system, pushed by greenback shortage and speculative buying and selling actions.