The Naira began the week on a sour note on Monday, recording the largest single-day drop versus the US dollar at the official foreign currency market. 

According to data from the Central Bank of Nigeria, the Naira fell from N1,363.39 on Friday of last week to N1,378.03 per dollar as currency trade began on Monday. 

This indicates that the Naira saw its biggest single-day decline of the year, falling by N14.64 per dollar. 

Additionally, the Naira dropped N5 against the dollar on the black market, closing at N1380 on Monday compared to N1,375 on Friday. The margin narrowed to just N1.97 due to a downward trend at both foreign exchange exchanges.

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