The Naira began the week on a negative note, depreciating against the US dollar on Monday, according to data from the Central Bank of Nigeria (CBN), which showed a decline of N6.58 to N1,492.49/$1 from N1,499.07/$1 recorded last Friday.
On the black market, the Naira slipped slightly, trading at N1,506/$1 on Monday, compared to N1,505/$1 the previous week.
The Naira had made significant gains in February 2025, particularly in the parallel market, compared to the official exchange window, but its stability remains affected by fluctuations in foreign exchange supply and demand.
