The Nigerian naira slipped slightly versus the US dollar at the official foreign-exchange window as the week opened on Monday, extending a cautious tone in currency markets. Figures from the Central Bank of Nigeria showed the local unit eased to 1,362.21 naira per dollar on Monday, down from 1,362.09 naira per dollar recorded on Friday. In net terms, that represents a depreciation of 0.12 naira against the dollar compared with the end-of-week level.
In the unofficial or “black” market, however, the naira held steady at 1,410 naira per dollar on Monday. The rate matched the level seen at the close of the previous week, suggesting limited movement outside the central bank’s official window.
The developments come alongside a reported external reserves position of 52.01 billion dollars, based on the most recent data from the apex bank. Three days earlier, the naira had posted gains against the dollar in both the official and black markets, underscoring the currency’s recent choppiness as traders weigh near-term supply and demand conditions.
