Naira falls further against dollar at official market to start week

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The Nigerian currency extended its depreciation against the dollar on Monday at the official foreign exchange market.

Data from the Central Bank of Nigeria showed the naira weakened to N1,383.63 per dollar, down from N1,380.93 recorded at the close of last week. This represents a drop of N2.7.

At the black market, the naira remained flat at N1,395 per dollar, the same rate as the previous Friday.

“We buy US dollars at N1385 and sell at N1395 per dollar,” a Bureau de change operator in Wuse Zone 4, Abuja, Bengazzi Abubakar, told DAILY POST on Monday.

Nigeria’s foreign reserves stood at $51.29 billion as of June 26, 2026, according to the central bank.

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