The naira depreciated at the official and parallel foreign exchange markets.
The naira has depreciated at official and parallel foreign exchange markets against the dollar.
Data from the Central Bank of Nigeria’s foreign exchange showed that the naira fell further to N1,605.62 per dollar on Monday from N1,602.18 exchanged last week Friday.
The naira weakened by N3.44 against the dollar on a day-to-day basis.
Similarly, at the black market, Nigeria’s currency, the naira, depreciated by N5 against the dollar to N1610 on Monday from N1605 traded at the close of last week.
This comes as the apex bank said the country’s external reserves grew to $38.8 billion in 2024.