Naira records significant depreciation against US dollar to begin week on negative note

The Naira connected Monday recorded important depreciation against the United States Dollar astatine the authoritative overseas speech marketplace to statesman the caller trading week connected a antagonistic note.

The Central Bank of Nigeria’s information showed that the Naira dipped connected Monday further to N1,405.62 per dollar, down from

N1,393.26 traded astatine the adjacent of enactment connected Friday, 6th March 2026.

This means that the section currency dropped importantly by N12.36 against the dollar connected Monday.

At the achromatic market, the Naira weakened by N5 to N1,420 per dollar connected Monday, up from N1,415 exchanged connected Friday, according to aggregate Bureau de Change operators successful Wuse Zone 4, Abuja.

DAILY POST reports that the Naira has recorded 2 consecutive weeks of depreciation against the dollar.

The downward inclination of the Naira comes contempt the surge successful the country’s outer reserves, which stood astatine $49.94 cardinal arsenic of past week Friday.

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