On Monday, the Nigerian naira saw a minor drop in value versus the US dollar within the official foreign exchange market. According to official figures from the Central Bank of Nigeria, the currency shifted to N1,362.21 per dollar, moving down from the N1,362.09 rate observed on Friday.
This represents a marginal decrease of N0.12 in the naira’s standing. Conversely, the unofficial black market remained steady, with the exchange rate holding firm at N1,410 per dollar, consistent with the figures from the end of the previous week.
Latest reports from the central bank indicate that Nigeria currently holds $52.01 billion in external reserves. These movements follow a brief period of gains for the naira across both market segments earlier in the week.
