At the official foreign currency market on Monday, the naira had its biggest increase versus the dollar since April 30, 2025.
According to exchange statistics from the Central Bank of Nigeria, the value of the currency increased from N1,606.15 on Friday of last week to N1,600.44 on Monday.
This indicates that, in comparison to last week’s exchange of N1,606.15, the naira appreciated N5.71 versus the dollar on Monday.
On the black market, the naira held steady at N1,630 to the dollar on Monday, which was the same price as it was at the end of business on Friday.
Recall that, in the past days, the naira recorded more depreciation than gains.
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On April 30, 2025, the naira gained N3.02 against the dollar to close at N1,596.68.
The Intercept reports that the naira has continued to experience fluctuations despite the apex bank’s monetary interventions.
