The naira on Monday maintained losses, closing at N1,681.42 per dollar at the official foreign exchange (FX) market.
This represents a marginal loss of 0.2 percent or N2.55 compared to N1,678.87/$ quoted on Friday, at the Nigerian Autonomous Foreign Exchange Market (NAFEM), according to data from the FMDQ Securities Exchange Limited.
The daily FX market turnover declined by 66.43 per cent to $471.50 million on Monday from $1,403.76 million recorded on Friday at the NAFEM.
According to the FX market summary released by the FMDQ, the intraday high closed at N1,695, slightly higher than N1,698..50 closed on Friday. The intraday low depreciated to N1,631 per dollar on Monday as against N1,609 on Friday.
The local currency fell to N1,740 to the dollar on Monday, losing N8 compared to N1,732 quoted on Thursday on the parallel market, also known as the black market.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
