The naira has depreciated to 1,401.4 to the dollar at the official foreign exchange market, according to data from the Nigerian Foreign Exchange Market.
The figure represents a 4.09 percent decline from the 1,346.32 to the dollar recorded on February 20. Data also shows the currency traded at 1,405.62 to the dollar on Monday, crossing the 1,400 mark for the first time since January 27.
At the parallel market, the naira weakened slightly to about 1,440 to the dollar on Tuesday, compared with 1,430 the previous day.
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The movement comes amid tensions involving the United States, Iran and Israel, which have unsettled global markets and pushed crude oil prices to about 100 dollars per barrel earlier this week before easing to around 87 dollars on Tuesday.
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