The naira depreciated against the United States dollar at the official foreign exchange market to begin the week on a negative note.
The Central Bank of Nigeria data showed that the naira weakened to N1,346.98 per dollar on Monday, from N1,346.43 exchanged on Friday last week.
This means that the naira depreciated by N0.55 against the dollar on Monday, ahead of Tuesday’s public holiday.
Meanwhile, at the black market, the naira gained N5 to trade at N1,410 per dollar on Monday, up from N1,415 traded mainly last week.
This comes as the country’s foreign exchange reserves rose further to $52.83 billion as of August 21st 2026.
DAILY POST reports that the naira gained against the dollar at the close of trading on Friday.