The naira depreciated in the official market on Monday, trading N1,498.98 to a dollar.
Data from the Central Bank of Nigeria showed the naira lost N6.49.
This represents a 0.43 per cent decline compared to Friday, when it closed at N1,492.49 to a dollar.
The loss followed a three-day appreciation recorded the previous week.
Despite this, the naira has remained relatively stable against the U.S. dollar due to CBN’s reforms promoting transparency in the foreign exchange market.
Analysts continue to commend the CBN for the local currency’s steady progress since December 2024.
