By Nworisa Michael
The Nigerian naira recorded a notable decline against the United States dollar, trading at N1,388.38 per dollar at the official foreign exchange window of the Central Bank of Nigeria (CBN) on Monday, March 23, 2026.
Data from the apex bank showed that the currency closed slightly stronger at N1,383 per dollar after opening at N1,388.38 in the Nigerian Foreign Exchange Market (NFEM).
The latest performance represents a drop of about N34 compared to last week’s closing rate of N1,353.90 per dollar recorded on Wednesday, March 18, prior to the Eid-el-Fitr public holidays declared by the federal government.
At the parallel market, the naira also weakened, depreciating by N10 on both buying and selling rates. According to market data from Aboki FX, the currency exchanged at N1,405 per dollar for buying and N1,415 per dollar for selling on the same day.
Market Summary:
- Official (NFEM): N1,388.38/$ (closed at N1,383/$)
- Parallel market: N1,405/$ (buying), N1,415/$ (selling)
The development underscores renewed pressure on the naira after a brief period of stability recorded earlier in the previous week.
