The Nigerian Naira has continued its downward trend against the United States dollar, starting the week on a negative note. According to data from the Central Bank of Nigeria, the Naira depreciated to N1,448.03 per dollar on Monday, down from N1,442.43 on Friday. This represents a decline of N5.6, or 0.39%, in just one trading day.

At the official foreign exchange market, the Naira’s weakness persisted, while the black market rate remained stable at N1,465 per dollar, unchanged from the previous week’s close. The disparity between the official and black market rates highlights the ongoing challenges in Nigeria’s foreign exchange market.

Despite the country’s seventh consecutive month of declining inflation, which fell to 16.05% in October from 18.02% in September, the Naira’s value continues to erode. The drop in inflation is a positive development, but its impact on the currency market has been limited so far.

Nigeria’s external reserves have risen to $43.64 billion as of November 14, 2025, which could provide some support to the Naira. However, the currency’s performance is influenced by a range of factors, including global economic trends, investor sentiment, and domestic economic conditions.

The Naira’s depreciation has significant implications for Nigeria’s economy, including higher import costs and increased pressure on businesses and consumers. The government and monetary authorities will be closely watched for their response to the currency’s decline and their efforts to stabilize the foreign exchange market.

As the Naira’s value continues to fluctuate, businesses and investors will be looking for signs of stability and clarity on the country’s economic policy direction. The Central Bank of Nigeria’s management of the foreign exchange market and its efforts to boost the Naira’s value will be critical in the coming days and weeks. With the country’s economy still recovering from the pandemic and other global shocks, a stable currency is essential for attracting investment and driving growth.