The naira continued its losing streak on Monday, sliding to an all-time low of 527 against the dollar in the parallel market as the CBN prepared for a launch of the e-Naira.
The local currency, which has been on a downward trend in recent weeks, fell to 524 against the greenback from 522/$1 on Thursday.
Also in the same segment, the domestic currency lost N2 against the British pound as it traded at N715/£1 as opposed to N713/£1 from the previous session.
The Naira took a heavier beating on the black market during the first trading session of this week as it weakened as it weakened N8 against the euro to trade at N616/€1 compared to N608/€1 from the previous session.
In the interbank market, the exchange rate of the Nigerian currency against its US counterpart was in favor of the latter. This was because the Naira lost 3kobo to sell for N410.29/$1 versus N410.26/$1 from the previous trading day.
However, according to the FMDQ Group, the naira strengthened to 411.63/$1 on Monday from 412/$1 on Friday.
The Central Bank of Nigeria has announced plans to launch a digital currency by October and has announced guidelines for commercial banks to do so, as well as a partnership with Bitt Inc, a global fintech company.
Trades worth $81.81 million were made on Monday, 62.2% or $134.71 million lower than the $216.52 million made last Friday.