The Nigerian currency weakened further against the United States dollar at the official foreign exchange market on Monday, continuing its recent downward trend.
Data from the Central Bank of Nigeria showed that the naira closed at N1,364.24 per dollar, marking its lowest level in weeks.
Naira Records Fresh Decline
The latest figure represents a depreciation from N1,358.44 recorded at the close of trading on Friday.
This indicates a drop of N5.80 within a single trading session.
The Dollar to Naira exchange rate April 27 2026 highlights sustained pressure on the local currency.
Parallel Market Also Weakens
At the parallel market, commonly referred to as the black market, the naira also declined slightly.
It traded at N1,429 per dollar, compared to N1,427 recorded in the previous session.
The trend in the Dollar to Naira exchange rate April 27 2026 reflects broader demand pressures in the foreign exchange market.
External Reserves Continue to Drop
Nigeria’s external reserves have also recorded a decline, adding to concerns in the forex market.
Available data shows reserves fell to $48.44 billion as of April 24, 2026.
Analysts say movements in the Dollar to Naira exchange rate April 27 2026 are often influenced by reserve levels and market liquidity.
Recent Trend Shows Sustained Pressure
In recent days, the naira has consistently weakened against the dollar at the official market.
The last time the currency traded weaker than the current level was earlier in April, when it crossed the N1,370 mark.
The Dollar to Naira exchange rate April 27 2026 underscores ongoing volatility in Nigeria’s foreign exchange market.
