The naira, on Monday, weakened slightly in the official foreign exchange market, closing at N1,353.5/$.
This happened ahead of the 304th Monetary Policy Committee meeting of the Central Bank of Nigeria scheduled to conclude in Abuja on Tuesday.
Data published on the CBN’s website showed the currency depreciated from N1,348/$ recorded last Friday.
Intraday trading data showed the naira traded at a high of N1,354.5/$ and a low of N1,343/$ before settling at a simple average rate of N1,349.24/$.
Official market data indicate mild pressure on the naira in the Nigerian Foreign Exchange Market, while the parallel market recorded marginal gains. External reserves also extended their upward trend.
In the parallel market, the local currency strengthened to N1,358/$ from N1,361.5/$ quoted on Friday.
