The naira has appreciated significantly against the dollar at the official foreign exchange market, starting the week on a strong note, with a rate of N1,529.71 per dollar on Monday.
This represents a N9.53 strengthening against the dollar compared to the N1,539.24 it exchanged for on Friday.
In contrast, the naira remained stable at N1,570 per dollar on the black market, the same exchange rate traded at the close of work last week.
Nigeria’s external reserves, however, have shed $3.5 billion within the first half of 2025, dropping to $37.369 billion on June 26, 2025, from $40.877 billion at the close of last year.
Truth Live News can confirm that the recent exchange rate development follows a previous trend where the naira dropped at the official foreign exchange market but appreciated at the parallel foreign exchange market on Friday.