The Naira began the week on a negative note, recording a sharp depreciation against the United States dollar at the official foreign exchange market.

According to data from the Central Bank of Nigeria (CBN), the Naira weakened on Monday to ₦1,436.34 per dollar, compared to ₦1,421.73 traded on Friday. This represents a decline of ₦14.61 within one trading session.

This marks the first time since October 14, 2025, that the local currency has fallen against the greenback in the official market.

However, at the black market, the Naira showed a slight improvement, trading at ₦1,460 per dollar, better than the rate recorded on Friday.

Meanwhile, Nigeria’s external reserves continue to show steady growth, rising to $43.197 billion as of October 31, 2025, according to CBN data.