The naira opened the week on a downward trend, depreciating against the US dollar across both the official and parallel foreign exchange markets on Monday.
Data from the Central Bank of Nigeria (CBN) showed that the currency weakened further at the official window, closing at N1,451.86 per dollar, compared to N1,450.43 recorded on Friday. This reflects a decline 1.4N1.43.
In the parallel market, the pressure was more pronounced as the naira slid by N15, trading at N1,490 per dollar, down from N1,475 at the end of last week.
The depreciation comes despite a notable rise in Nigeria’s external reserves, which have surged to a six-year high of $45.11 billion as of December 5, 2025.
The development also follows the CBN’s publication on Monday of a list of 82 fully licensed Bureau De Change (BDC) operators in the country.
