The Naira continued its free fall against the United States dollar across the foreign exchange markets as trading resumed on Monday.
Data from the Central Bank of Nigeria, CBN, showed that the Naira weakened further on Monday, falling to N1,367.61 per dollar from N1,361.84 recorded at the close of trading last Friday.
This means that the Naira depreciated by N5.77 per dollar at the official foreign exchange market compared with the N1,361.84 recorded at the close of trading last week.
Similarly, at the parallel market, the Naira weakened by N10 to N1,385 per dollar from N1,375 recorded last week.
The depreciation across the foreign exchange markets came despite a rise in the country’s external reserves to $55.18 billion on Friday.
DAILY POST reports that the Naira recorded a sharp decline against the dollar from Thursday to Friday last week, losing N22.12 per dollar.
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