Naira Falls to N1,332.10/$ at Official Market, Parallel Rate Holds at N1,373

The naira depreciated against the dollar at the official foreign exchange market on Monday, starting the week on a negative note.

Data from the Central Bank of Nigeria showed the naira weakened to N1,332.10 per dollar on Monday from N1,331.19 recorded on Friday. That is a depreciation of N0.91 against the dollar at the official market.

Parallel market stays flat

At the parallel market, the naira remained stable at N1,373 per dollar on Monday, the same exchange rate recorded at the end of last week.

The stability at the parallel market contrasts with the slight decline at the official window, where the CBN publishes daily rates.

Foreign reserves at $55.08bn

The country’s foreign reserves stood at $55.08 billion as of October 9, 2026, according to the latest data from the apex bank.

The reserves figure is closely watched because it reflects the CBN’s capacity to manage exchange rate pressure and meet foreign exchange obligations.

Friday gain fades

The naira had appreciated against the dollar on Friday to end the week on a positive note. Monday’s movement reversed that gain at the official market.

For Nigerian businesses and consumers, the official rate eased by less than one naira while the parallel market held steady. That leaves the gap between the two markets at about N40.90 per dollar, based on Monday’s rates. The naira’s direction in the coming days will depend on flows into the official market and the CBN’s management of reserves.