24/08/2026
NAIRA SLIPS AGAIN AS DOLLAR HITS ₦1,346.98 AT OFFICIAL MARKET
ABUJA, Nigeria, August 24 (African News Digest) – The Nigerian naira depreciated slightly against the United States dollar at the official foreign exchange market on Monday, beginning the week on a weaker note.
Data from the Central Bank of Nigeria showed that the naira traded at ₦1,346.98 to the dollar, compared with ₦1,346.43 recorded on Friday.
The latest movement represents a ₦0.55 depreciation against the US currency ahead of Tuesday’s public holiday.
However, the naira recorded an improvement in the parallel market, where the dollar was exchanged at about ₦1,410, compared with ₦1,415 recorded mainly last week.
Meanwhile, Nigeria’s foreign exchange reserves continued to rise, reaching $52.83 billion as of August 21, 2026.
The latest exchange-rate movement comes amid ongoing efforts by monetary authorities to stabilise the foreign exchange market and strengthen the naira.
Market watchers will be monitoring trading activity in the coming days as businesses and investors assess the impact of currency movements on imports, inflation and the wider Nigerian economy.
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