Business
Naira Weakens Further Against Dollar Despite Falling Inflation and Rising Reserves
The Naira continued its slide against the US dollar at the official foreign exchange market, opening the week on a bearish note. Data from the Central Bank of Nigeria showed that the Naira fell to N1,448.03 per dollar on Monday, down from N1,442.43 recorded on Friday, marking a N5.6 decline.
At the parallel market, the Naira remained steady at N1,465 per dollar, unchanged from last week’s closing rate.
The depreciation comes even as Nigeria recorded its seventh consecutive monthly drop in inflation, which eased to 16.05 percent in October from 18.02 percent in September. Meanwhile, the country’s external reserves rose to $43.64 billion as of November 14, 2025.
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