The Nigerian naira saw a slight increase to N1480 against the dollar on the parallel foreign exchange market (black market) as the Eid holidays took off.
Sources in Abuja confirmed this new development on Tuesday.
According to the sources, the Naira exchanged at N1,480 against the dollar on Tuesday compared between N1,490 to N1500 it was traded before the Eid holiday.
However, official FX trading will resume on Wednesday, as inflation soars to 33.95 percent.
The consistent depreciation of the Naira has been accompanied with economic concerns for Nigeria.
saharandaily