The Nigerian naira continued its downward movement against the US dollar on Monday, April 27, 2026, recording its weakest performance in recent weeks at the official foreign exchange market.
According to figures released by the Central Bank of Nigeria, the local currency closed at N1,364.24 per dollar, compared to N1,358.44 at the close of trading on Friday. This represents a depreciation of N5.80 within a single trading session.
The pressure on the currency was also reflected in the parallel market, where the naira traded at N1,429 per dollar, slightly weaker than the N1,427 recorded previously.
The latest development comes amid a continued decline in Nigeria’s external reserves, which fell to $48.44 billion as of April 24, 2026.
The drop in reserves adds to concerns about the country’s ability to stabilise the currency in the face of persistent demand for foreign exchange.
Recent trends indicate that the naira has been on a sustained depreciation path at the official market. The last time the currency traded weaker than its current level was on April 8, when it reached N1,371.82 per dollar.
