BREAKING: Naira Falls Against Dollar Massively As FX Turnover Drops To 3-Month Low—The Genius Media Nigeria gathered that the exchange rate between the naira and the US dollar closed at N416.75/$1 at the official Investors and Exporters (I&E) window, falling lower compared to N416.67/$1 recorded in the previous trading session.
The exchange rate depreciated further by 0.02% to close at N416.75/$1 on Friday, 18th February 2022 compared to N416.67/$1 recorded in the previous session. This represents the lowest level recorded at the official FX market since 4th January 2022.
In the same vein, forex turnover fell to its lowest level in over 3 months, since the 16th of November 2021 to $64.03 million, representing a 49.59% decline compared to $127.02 million recorded in the previous trading session.
On the other hand, Naira closed flat at N575/$1 on Friday at the parallel market, having fallen from N570/$1 in the previous trading session. This is according to information obtained from BDC operators interviewed by Nairametrics.
The exchange rate at the Peer-to-Peer (P2P) forex market depreciated by 0.43% to trade at a minimum of N581 to a dollar on Monday morning compared to N578.49/$1 recorded on Friday, 18th February 2022.
The exchange rate at the Investors and Exporters window closed at N416.75/$1 on Friday, 18th February 2022, representing a 0.02% depreciation compared to N416.67/$1 recorded in the previous trading session.
BREAKING: IGP Egbetokun Send Strong Warning To Governor Siminalayi Fubara Over Rivers State Local Govt…
JUST IN: Paul Pogba’s Four-Year Doping Ban Reduced To 18 Months---France and Juventus forward, Paul…
JUST IN: Zenith Bank Enhances E-Channel Services For Customers----Zenith Bank, one of Nigeria's leading financial…
Minister Of Power, Adebayo Adelabu WhatsApp Number has been Hacked. The Genius Media Nigeria…
BREAKING: You Are A Wicked And Fraudulent IGP - Gov Fubara Fumes Over Rivers State…
PalmPay Marks Five Years of Innovation and Impact in Nigeria’s Fintech Space---PalmPay, a premier Africa-focused…