The Naira recorded a massive depreciation of N14.61 against the US dollar at the official market, settling at N1,436.34 on Monday. According to Daily Post reporting, this officially ends the currency’s streak of appreciation, despite external reserves maintaining strength at $43.197 billion.
The Naira began the week on a negative note, recording a massive depreciation against the United States dollar at the official foreign exchange market on Monday, November 4, 2025.
Data from the Central Bank of Nigeria (CBN) confirmed the currency weakened significantly to N1,436.34 against the dollar, marking a considerable drop from the N1,421.73 it traded at on Friday. This represents a substantial fall of N14.61 compared to the close of last week’s trading.
According to daily post reporting, this marks the first time the Naira has depreciated at the official FX market since October 14, 2025. The depreciation occurred even as the country’s external reserves continued to rise, recording $43.197 billion as of October 31, 2025.
In contrast to the official market setback, the Naira saw an improvement in the black market, where it exchanged at N1,460 per dollar. This parallel market rate was an improvement compared to the rate reported on Friday.
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