Naira Falls At Official And P2P Forex Market

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The exchange rate between the naira and the US dollar closed at N415.1/$1 at the Investors and Exporters (I&E) window, where forex is traded officially.

Naira fell against the US dollar on Christmas eve to close at N415.1/$1, representing a 0.09% depreciation when compared to N414.73/$1 recorded in the previous trading session. This is despite the 56.2% increase in the volume of traded forex in the market on Friday.

Meanwhile, naira remained flat at the parallel market, after closing at N572/$1 on Friday.

This is according to information obtained from BDC operators interviewed by Nairametrics. Exchange  rate at the P2P market depreciated from N567/$1 to N568 in the early hours of Tuesday, 28th December 2021.

Nigeria’s foreign reserve reduced by 0.03% on Thursday, 23rd December to close at $40.59 billion compared to Wednesday $40.6 billion.

– Nairametrics

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