The naira continued its decline against the dollar at the official foreign exchange market on Monday.
According to FMDQ data, the naira weakened to ₦1,548.89 against the dollar on Monday from ₦1,543.03 exchanged last week Friday. This indicated that the naira fell by ₦5.86 compared to ₦1,543.03 traded at the close of last Friday.
Similarly, on the black market, the naira closed at ₦1,667 per dollar on Monday from ₦1,665.
However, the naira had been fairly stable between ₦1,545 and ₦1,660 per dollar at the official and parallel foreign exchange markets, respectively.
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