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The naira experienced a notable appreciation against the parallel foreign exchange market on Monday following the Christian holidays.
A Bureau De Change operator in Wuse Zone 4, Abubakar Hassan, informed DAILY POST that the naira was exchanged at N1,475 per dollar on Monday, an increase from N1,490 prior to the Christmas holidays.
“This was due to a decrease in demand,” he stated.
This marks a significant improvement of N15 against the US dollar on Monday.
Additionally, data from the Central Bank of Nigeria indicated that the naira also strengthened on Monday to N1,442.51 per dollar, up from N1,443.38 on Wednesday, December 24, 2025. In the official market, the naira recorded a gain of N0.87 compared to the N1,443.38 traded on Christmas Eve.
This development coincides with changes in the country’s external reserves on a month-on-month basis.
Frequently Asked Questions
What caused the naira's appreciation?
The naira appreciated due to a decrease in demand in the foreign exchange market following the Christmas holidays.
What was the exchange rate of the naira on Monday?
On Monday, the naira was exchanged at N1,475 per dollar in the parallel market and N1,442.51 per dollar in the official market.
How did the naira perform compared to the previous week?
The naira strengthened from N1,490 to N1,475 in the parallel market, and from N1,443.38 to N1,442.51 in the official market since the previous week.
Eze Chidiebere Paul
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