The Nigerian naira recorded a slight depreciation against the United States dollar at the official foreign exchange market on Monday, starting the new trading week on a negative note. Data from the Central Bank of Nigeria (CBN) showed that the local currency closed at N1,390.36 per dollar.
This represents a drop from the N1,386.55 per dollar recorded at the end of trading last Friday. The movement means the naira lost N3.81 against the dollar within one trading session, signaling renewed pressure in the official market despite recent gains.
At the parallel market, however, the naira remained stable. Checks with Bureau de Change operators in Wuse Zone 4, Abuja, indicated that the currency exchanged between N1,460 and N1,470 per dollar, unchanged from Friday’s rates. This stability suggests a temporary balance between demand and supply in the black market.
The depreciation comes after a strong performance by the naira last week, when it appreciated across both official and parallel markets. Meanwhile, CBN data showed that Nigeria’s external reserves stood at $46.18 billion as of January 29, 2026, providing some buffer for ongoing foreign exchange management.
