The Naira depreciated against the United States Dollar across official and parallel, with foreign exchange markets to begin the week on a negative note.
Data from the Central Bank of Nigeria (CBN) showed that the Naira dropped to N1,470.26 on Monday, October 6, 2025.
Naira depreciates against US Dollar across official, black markets
This means that the Naira weakened by N4.58 per dollar on Monday compared to the N1,465.68 recorded on Friday last week.
Similarly, at the black market, the Naira dropped to N1,505 per dollar on Monday, down from N1,495 traded at the close of business on Friday last week.
Bureau de Change operators attributed the drop to rising demand for foreign exchange.
This comes despite the continued rise in Nigeria’s external reserves to $42.44 billion as of October 3, 2025.
It would be recalled that the Naira depreciated against the Dollar on Friday, October 4, 2025, closing at N1,465.68 per dollar, a loss of N10.44 or 0.72% from the previous day’s rate of N1,455.24 per dollar.
However, on a week-on-week basis, the Naira appreciated by N14.98 or 1.02% compared to N1,480.66 per dollar on Friday, September 27, 2025
In the black market, the Naira was traded at N1,485 per dollar, showing stability from the previous day but a slight depreciation from N1,460 per dollar on September 27, 2025.