Market News
Naira depreciates against dollar across official, black markets - DAILY POST
By
The naira depreciated against the dollar at the official and parallel foreign exchange markets on Monday to kick off the week on a bearish note.
The Central Bank of Nigeria official exchange rate data showed that the Naira dropped to
N1,535.93 against the dollar on Monday, down from N1,533.56 traded last week Friday.
This means that the Naira slightly weakened by N2.37 against the dollar when compared to the N1,533.56 exchanged at the close of work last week.
Similarly, at the black market, the Naira dropped by N5 to N1570 per dollar on Monday from N1,565 on Friday.
Meanwhile, the apex bank data showed that the country’s external reserves have swelled further to $40.29 billion as of August 8, 2025.
Recall that the Naira appreciated on Friday at the back of increased external reserves.
