Newsonline reports that the exchange rate between the naira and the US dollar closed at N414.8/$1 at the official Investors and Exporters (I&E) window on Friday.
This online newspaper understands that Naira appreciated against the US dollar on Thursday to close at N414.8/$1, representing a 0.07% gain compared to N415.07/$1 recorded in the previous trading sessions. Forex turnover at the official market dropped by 37.4% to $139.67 million from $223.18 million recorded in the previous day.
Similarly, naira appreciated against the US dollar on Thursday, gaining by 0.87% to close at N567/$1 from N572/$1 that was recorded in the previous trading session. This is according to information obtained from BDC operators across Lagos, Nigeria.
Nigeria’s foreign reserve reduced by 0.08% on Wednesday, 1st December to close at $41.15 billion compared to $41.19 billion recorded as of the previous day. The recent decline in the nation’s external reserve is attributed to the intervention by the apex bank in the official forex market.
The exchange rate at the Investors and Exporters window appreciated by 0.07% to close at N414.8/$1 on Thursday, compared to N415.07/$1 recorded over the past six trading sessions.
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