Naira and dollar
Nigeria‘s naira continued on a low path against the dollar on Friday as it exchanged N470/$1 on Friday.
However, on the officially recognized NAFEX market, the forex turnover dropped by 63.7% while the exchange rate depreciated for a third consecutive trading day closing at N388.50/$1.
According to Nairametric, at the black market where forex is traded unofficially, the Naira remained stable again closing at N470 to a dollar on Friday, according to information from Aboki FX a prominent FX tracking website. An Independent check by Nairametrics research also indicates a stable parallel market rate of N470/$1.
The Naira depreciated marginally against the dollar at the Investors and Exporters (I&E) window on Friday by 50 kobo, closing at N388.50/$1, compared with the N388 that was reported on Thursday, July 16. The opening indicative rate was N388.07 to a dollar on Friday. This represents an 11 kobo drop when compared to the N387.96 to a dollar that was recorded on Thursday.
You may be interested
You lied; we don’t carry AK-47 like herdsmen – Benue farmers slams Gov LalongWebby - February 25, 2021
The Farmers Association of Nigeria on Wednesday slammed Governor Simon Lalong of Plateau State and Chairman of the Northern Governors…
Rising insecurity tension: Northern Govs, traditional rulers, political leader gather in KadunaWebby - February 25, 2021
The rising insecurity precipitated by Fulani herdsmen across the country, including the rampage of bandits in the northwest has continued…
Oyetola Condoles Osun NUJ Chair Over Mother’s DeathWebby - February 25, 2021
Governor Adegboyega Oyetola of the State of Osun on Thursday, condoled the State Chairman of the Nigeria Union of Journalists,…