To start the week on a positive note, the naira saw a considerable increase in value relative to the dollar on the official foreign currency market.  

The naira saw a notable shift from N1, 539.24 per dollar on Friday of last week to N1, 529.71 per dollar on Monday, according to exchange statistics from the Central Bank of Nigeria.  

This indicates that, in comparison to the N1,539.24 it was worth on Friday, the naira appreciated by N9.53 against the US dollar.  

On the black market, the nation's currency held steady at N1,570 to the US dollar on Monday, which was the same exchange rate at the end of last week's trading session.

Nigeria's overseas reserves dropped $3.5 billion in the first half of 2025, which coincides with this scenario.  This is due to the fact that the external reserves decreased from $40.877 billion at the end of the previous year to $37.369 billion on June 26, 2025.  

Remember that Friday saw a decline in the value of the naira at the official foreign exchange market, but an increase at the parallel market.

Source