The naira began the new week in a weaker position against the US dollar, extending its depreciation trend at Nigeria’s official foreign exchange window. Central Bank of Nigeria figures indicated that the currency slipped to 1,383.63 naira per dollar on Monday, compared with 1,380.93 naira per dollar at the previous point in time. On a day-to-day basis, that move represented a decline of 2.7 naira, reinforcing the sense that the currency continues to come under pressure early in the week.
In the parallel or “black” market, however, the naira held steady. Traders quoted the exchange rate at 1,395 naira per dollar on Monday, matching the rate recorded at the end of trading on Friday. A bureau de change operator in Wuse Zone 4, Abuja, Bengazzi Abubakar, said the business model remained unchanged, with purchases of US dollars at 1,385 naira and sales at 1,395 naira per dollar.
The currency movement is unfolding alongside data on Nigeria’s external buffers. The central bank reported that foreign reserves stood at $51.29 billion as of June 26, 2026, a level investors and businesses often watch closely for signals about the market’s capacity to meet demand for imported goods and foreign exchange obligations.
