The naira depreciated to N1,536.99 against the United States dollar in the Nigerian Foreign Exchange Market (NFEM) on Tuesday, August 26, 2025.
However, the naira appreciated to N1,540 per dollar in the parallel market from N1,550 per dollar recorded last weekend.
Manufacturers oppose reintroduced 4% FOB charge
Data published by the Central Bank of Nigeria (CBN) showed that the exchange rate for the local currency rose to N1,536.99 per dollar from N1,535 per dollar last weekend, indicating N1.99 depreciation for the currency.
The margin between the parallel market and NFEM rate contracted to N3.01 per dollar from N15 per dollar recorded last Friday.
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