BREAKING: Naira Falls At Official And P2P Market, See New Exchange Rate

Naira has fallen at the official and P2P market, See New Exchange Rate below.

 

 

NewsOnline reports that the exchange rate between the naira and the US dollar at the official Investors and Exporters (I&E) window closed at N416.38/$1.

 

ALSO: CBN Warns Against Borrowing Money From Loan Sharks

 

 

NewsOnline Nigeria had earlier reported that Naira started the week with a decline against the US dollar on Monday to close at N416.38/$1, representing a 0.09% depreciation compared to N416/$1 recorded in the previous trading session.

 

Meanwhile, forex turnover at the official market decreased marginally by 3.9% to $136.9 million compared to $142.42 million that exchanged hands on Friday.

 

In the same vein, the exchange rate fell by 1.04% at the P2P market on Tuesday morning, trading at a minimum of N585.5/$1 compared to N579.5/$1 recorded as of the close of trading activities on Monday.

 

Meanwhile, the naira closed with a marginal decline of 0.18% to close at N571/$1 at the parallel market, after maintaining N570 to a dollar in the past three trading sessions. This is according to information obtained from BDC operators interviewed by NewsOnline Nigeria.

 

Nigeria’s foreign reserve declined by $31.6 million to close at $40.31 billion as of 21st January 2022, representing a 0.08% decline compared to $40.35 billion recorded as of 20th January 2022.