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The naira declined against the dollar in both the official and parallel foreign exchange markets on Monday, marking the start of the new month on a negative note.
Data from the Central Bank of Nigeria revealed that the naira fell to N1,448.44 on Monday, a decrease from N1,446.74 that was traded on Friday of the previous week.
This indicates that the naira experienced a drop of N1.7 against the dollar on Monday compared to Friday.
Additionally, in the black market, the naira slipped by N5 to reach N1,475 on Monday, up from N1,470 at the end of last week.
This situation arises as Nigeria's foreign reserves were recorded at $44.61 billion as of November 27th, 2025.
What does it mean for the naira to depreciate? When the naira depreciates, it means that its value has decreased compared to the dollar, making imports more expensive and affecting the overall economy.
When the naira depreciates, it means that its value has decreased compared to the dollar, making imports more expensive and affecting the overall economy.
What are the current rates for the naira against the dollar? As of Monday, the naira is trading at N1,448.44 in the official market and N1,475 in the black market.
As of Monday, the naira is trading at N1,448.44 in the official market and N1,475 in the black market.
What is the status of Nigeria's foreign reserves? Nigeria's foreign reserves stood at $44.61 billion as of November 27th, 2025.
Nigeria's foreign reserves stood at $44.61 billion as of November 27th, 2025.
Eze Chidiebere Paul
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