Naira has lost steam again at the parallel market, sliding to N555 per dollar on Monday.
The local currency had crashed to 540/dollar on Friday, after trading at 535/dollar on Thursday.
After tumbling to 575/dollar recently, the local currency began a gradual uptick in recent weeks peaking at 530/dollar last week.
The operators in the parallel market who spoke to journalisst on Monday, communicated that the local currency was bought and sold at 550/dollar and 555/dollar respectively.
A trader in the black market attributed the fall to an increase in demand for the greenback.