The Forex turnover dropped by 22% as Nigeria’s exchange rate at the NAFEX window depreciated to 386.21 during intraday trading on Tuesday, September 8, 2020. In sharp contrast, the naira appreciated to N443/$1 at the parallel market.
Market Watch
NAFEX: The Naira depreciate against the dollar at the Investors and Exporters (I&E) window on Tuesday, closing at N386.21/$1.
This represents a 21 kobo drop when compared with the N386 to a dollar that it exchanged on Monday, September 7
The opening indicative rate was N386.48 to a dollar on Tuesday. This represents a 29 kobo drop when compared to the N386.19 to a dollar that was recorded on Monday.
The N386.63 to a dollar is the highest rate during intraday trading before closing at N386.21. It also sold for low as N380/$1 during intraday trading.
Forex Turnover: Forex turnover at the Investor and Exporters (I&E) window declined further by about 22.2% on Tuesday, Septemebr 8, 2020. This is in comtrast to the improved turnover that was recorded last week.
– Nairametrics