The Nigerian Naira began the week on a negative note, weakening against the US dollar at the official foreign exchange market on Monday, March 30, 2026.
Data released by the Central Bank of Nigeria showed that the local currency depreciated to N1,383.58 per dollar, compared to N1,380.58 recorded at the close of trading on Friday last week. This represents a decline of about N3.
In contrast, the naira recorded a marginal gain at the parallel market. Bureau de Change operators reported that the currency appreciated by N5 to close at N1,415 per dollar, improving from N1,420 exchanged on Friday.
The mixed performance comes amid a sustained drop in Nigeria’s foreign reserves, which fell to $49.44 billion as of March 27, 2026, slipping below the $50 billion level recorded earlier in the month.
The latest movement follows a brief rally last week, when the naira posted gains at the official market on both Thursday and Friday.
