The Naira defied policy interventions of the Central Bank of Nigeria, as it depreciated against the dollar at the start of week in the official foreign exchange market.
CBN data showed that the Naira fell to N1,530.15 per dollar on Monday, from N1,517.24 last Friday, thereby losing N12.91 in the official market.
Meanwhile, in the black market, the Naira remained stable at N1,580 per dollar, the same exchange rate last Friday.
The Chief Executive Officer of Financial Derivatives, Bismark Rewane, said the apex bank had spent $8 billion defending the Naira against other foreign currencies in recent months.