The Naira experienced a slight depreciation against the dollar on Monday in the foreign exchange market, starting the week on a negative trend.
According to FMDQ data, the Naira closed at ₦1536.58 per dollar on Monday, down from the ₦1534.56 rate reported by the Central Bank of Nigeria at the end of trading last week. This indicates a minor decline of ₦2.2 compared to the ₦1534.56 exchange rate from the previous Friday.
In the black market, the Naira’s value remained stable, ranging between ₦1662 and ₦1665 on Monday, consistent with last Friday’s rates.
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