Naira weakens to N1,349.34 per dollar officially as reserves fall to $55.06bn
CBN data shows the currency lost N2.54 at the official window and N15 on the parallel market on Monday.
The naira weakened against the dollar on Monday, closing at N1,349.34 at the official market, according to data from the Central Bank of Nigeria.
That compares with N1,346.80 on Friday, a loss of N2.54. On the parallel market the naira lost N15 and traded at N1,425 to the dollar, against N1,410 at Friday's close, Daily Post reported.
Business News Nigeria also reported that the currency softened across the segments of the foreign exchange market as trading activity moderated.
The move came as Nigeria's external reserves slipped to $55.06bn as of November 6, according to apex bank data. Daily Post had earlier reported that reserves fell by $90m in five days to $55.13bn as of November 5.
SOURCE: Daily Post
