The naira depreciated against the dollar at the official foreign exchange market on Monday to begin on a bearish note.
The Central Bank of Nigeria’s data showed that it dropped to N1,390.36 per dollar on Monday, down from N1,386.55 traded last week Friday.
This means that the Naira weakened by N3.81 on Monday when compared to last week’s close of work exchange rate.
Meanwhile, at the black market, Naira remained unchanged at between N1460 and N1470 per dollar on Monday, the same as on Friday, according to multiple Bureau de Change operators in Wuse Zone 4, Abuja.
Recall that after last week’s currency trading, the naira appreciated significantly across official and parallel foreign markets.
The apex bank data showed that Nigeria’s external reserves stood at $46.18 billion as of January 29th, 2026.
