The Naira depreciated against the dollar at the official foreign exchange on Monday, March 30, beginning the week on a negative note.
Data from the Central Bank of Nigeria showed that the local currency dipped to N1,383.58 on Monday, down from N1,380.5766 traded on Friday last week.
This represents a drop of N3.00 compared to last Friday’s official foreign exchange rate.
Meanwhile, multiple Bureau de Change operators said the Naira gained N5 in the black market, closing at N1,415 per dollar, up from N1,420.
The development comes after weeks of decline in the country’s foreign reserves, which stood at $49.44 billion as of March 27, 2026, down from $50 billion on March 12.
Recall that last week, DAILY POST reported that the Naira recorded gains on Thursday and Friday at the official foreign exchange market.
