4 hours ago
1
The Naira depreciated against the United States Dollar at official foreign exchange markets to begin the week on a bearish note.
The Central Bank of Nigeria’s data showed that the Naira dropped to N1,457.51 per dollar on Monday, down from N1,455.17 traded on Friday last week.
This means that the country’s currency weakened by N2.34 on Monday when compared to Friday.
Meanwhile at the black market, the Naira remained stable at N1503 per dollar on Monday, the same rate as last week.
The development comes despite the country’s continued external reserves, which stood at $42.59 billion as of 10 October 2025.
Recall that last week, the Naira appreciated significantly across FX markets on Friday.
