The Naira continued depreciating against the dollar at the official foreign exchange market on Monday to begin the week on a negative note.
The Central Bank of Nigeria’s data showed that the Naira weakened further to N1,373.70 per dollar on Monday compared to N1,371.04 exchanged on Friday last week.
This means that the Naira dropped again by N2.66 per dollar on Monday, down from the figure recorded on Friday.
Meanwhile, at the black market, the Naira remained unchanged at N1400 per dollar, the same rate traded at the close of the last working day.
The development comes despite the resurgence of foreign reserves to $48.58 billion as of 15th May 2026.
Recall that last week, Naira depreciated against the dollar across FX markets.
Eze Chidiebere Paul
I'm dedicated to creating high-quality content that informs, inspires, and delights. If you have any questions or suggestions, don't hesitate to get in touch. Happy reading!
