Naira Dips Against Dollar at Official Market as Week Begins

The Naira weakened slightly against the U.S. dollar at Nigeria’s official foreign exchange market on Monday, according to data from the Central Bank of Nigeria (CBN).

CBN figures showed that the local currency traded at ₦1,536.42 per dollar at the close of business on Monday, down from ₦1,535.04 recorded at the end of last week, marking a ₦1.38 drop.

Meanwhile, the Naira recorded a modest gain in the parallel market, rising by ₦2 to ₦1,548 per dollar from ₦1,550, according to Abubakar Alhasan, a Bureau de Change operator in Wuse Zone 4, Abuja.

The mixed performance of the Naira comes as Nigeria’s external reserves climbed to $41.11 billion as of August 22, 2025, highlighting a complex landscape for the country’s currency amid rising foreign exchange activity.