The naira continued from where it stopped before the New Year break on Friday, closing at 363 per United States dollar at the parallel market on Tuesday.
The currency, which hovered around 365 to the dollar for some months, rose to 364 before the Christmas holiday.
It later rose to 364 to the dollar last week before closing at 363 on Friday.
Foreign exchange traders and currency analyst had predicted that the naira would be stable during the Christmas and New Year holidays.
They said the Central Bank of Nigeria, CBN’s regular interventions through the injection of dollars into the market would deter currency speculators from making a bet on the local currency.
The naira has been hovering at 360 to the dollar at the Investors and Exporters FX Window, while it has been quoted at 306.05 at the official market, the level at which the central bank has been intervening.
The CBN has been injecting dollars into the forex market on weekly basis in the past few months.