Table of Contents
- Depreciation of the Naira
- Central Bank Data
- Official Market Rates
- Black Market Rates
- External Reserves
- BDC Operators
The Naira started the week on Monday with a decline against the United States dollar in both the official and parallel foreign exchange markets.
Data from the Central Bank of Nigeria indicated that the Naira further depreciated on Monday to N1,451.86 per dollar, a decrease from N1,450.4287 exchanged last Friday.
This implies that in the official market, the Naira fell by N1.43 on Monday compared to the closing rate of N1,450.43 from the previous week.
In the parallel market, the Naira experienced a more significant drop of N15 on Monday, falling to N1,490 per dollar, down from N1,475 on Friday.
This decline occurs despite Nigeria’s external reserves reaching a six-year peak of $45.11 billion as of December 5th, 2025.
The situation also follows the Central Bank of Nigeria's announcement on Monday regarding a list of Bureau De Change (BDC) operators in the country.
Frequently Asked Questions
What caused the depreciation of the Naira?
The depreciation of the Naira is influenced by various factors, including market demand and supply dynamics, as well as external economic conditions.
How does the black market rate compare to the official rate?
The black market rate is typically higher than the official rate, reflecting the differences in supply and demand in the two markets.
What is the current status of Nigeria's external reserves?
As of December 5th, 2025, Nigeria's external reserves have reached a six-year high of $45.11 billion.
Eze Chidiebere Paul
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