Naira weakens to N1,583/$1 at official market as FX reserves dip and BDC reforms loom

The naira began the week on a weaker footing, depreciating to N1,583/$1 on Monday at the official market.

This marks a decline from N1,579/$1 recorded on Friday, according to data from the Central Bank of Nigeria (CBN) website.

This comes after the naira posted an impressive appreciation streak in the official market last week.