Business
Naira Declines Against Dollar in Official and Parallel Markets
The Naira weakened against the United States Dollar in both official and parallel foreign exchange markets as the week began on a negative note.
Data from the Central Bank of Nigeria showed the Naira closed at 1,470.26 per dollar on Monday, down from 1,465.68 on Friday, representing a depreciation of 4.58 naira.
In the black market, the currency fell to 1,505 per dollar on Monday, compared with 1,495 at the end of last week. Bureau de Change operators attributed the decline to rising demand for foreign currency.
The movement comes even as Nigeria’s external reserves rose to 42.44 billion dollars as of October 3, 2025. The Naira had also eased against the Dollar during the previous trading session on Friday.
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