Nigeria’s naira extended its decline against the US dollar on Monday in both the official foreign-exchange window and the parallel market, despite the country’s sizeable external reserves.
Central Bank of Nigeria figures showed the currency closing at ₦1,333.72 to the dollar on Monday, compared with ₦1,332.26 on Friday, October 16, 2026. The movement represented a ₦1.46 loss in the naira’s value at the official market.
The currency also came under pressure in informal trading, where it was quoted at ₦1,375 per dollar on Monday, weaker than the ₦1,370 level recorded last week.
Meanwhile, Nigeria’s external reserves stood at $55.09 billion at the close of last week, based on central-bank data. The latest decline followed a negative finish for the naira in the previous week, when it also lost ground against the dollar.
