The naira slipped to N1,376/$ on Monday, according to data obtained from the Central Bank of Nigeria (CBN).
The data showed that the local currency depreciated from N1,368.5 per dollar recorded on Friday.
The decline comes as investors flocked to the dollar after U.S. strikes on Iran triggered a fresh safe-haven rush, strengthening the greenback across global markets.
The dollar index climbed nearly 1 per cent on Monday, marking its strongest single-day gain in seven months as investors sought safety.
CBN data shows the naira depreciated to N1,376 per dollar on Monday from N1,368.5 per dollar at the close of trading on Friday.
The currency traded between N1,397 per dollar and N1,368.5 per dollar during Monday’s session.
The simple mean average exchange rate stood at N1,378.48 per dollar.
