Business
Naira Weakens Against US Dollar at Official Market
The Nigerian Naira opened the week on a bearish note, depreciating against the United States Dollar at the official foreign exchange market.
According to data from the Central Bank of Nigeria (CBN), the Naira fell to ₦1,457.51 per dollar on Monday, compared to ₦1,455.17 recorded last Friday. This represents a decline of ₦2.34 in a single trading day.
At the parallel (black) market, however, the Naira maintained stability, trading at ₦1,503 per dollar, the same rate as the previous week.
The depreciation occurred despite Nigeria’s relatively strong external reserves, which stood at $42.59 billion as of October 10, 2025.
The latest movement follows a brief recovery last week when the Naira appreciated across various FX market segments on Friday.
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