Naira falls to N1,350.45/$ at NFEM, extending November losses
The naira weakened to N1,350.45 per dollar at the Nigerian Foreign Exchange Market (NFEM) on November 5, extending its losses in the first week of November. The post Naira falls to N1,350.45/$ at NFEM, extending November losses appeared first on Nairametrics .
The Nigerian naira fell to N1,350.45 per dollar at the NFEM on November 5, continuing its downward trend in the first week of November. This marks a cumulative depreciation of N4.44 since the start of the month, following a reversal of appreciation recorded over the previous three months. The decrease in trading activity and a weaker closing exchange rate were noted, despite an increase in Nigeria's foreign exchange reserves by $295.35 million in October 2026, bringing the gross external reserves to a record $46 billion.
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