Naira Falls Further At The Official Market As Forex Turnover Declines.

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Thursday, 30th June 2022: The exchange rate between the naira and the US dollar closed at N425.05/$1 at the Investors and Exporters (I&E) window, representing the lowest level recorded year-to-date.

Naira depreciated further against the US dollar, falling by 0.04% to close at N425.05/$1 compared to N424.88/$1 recorded in the previous trading sessions. In the same vein, the total forex supply declined by 32.1% to $76.64 million from $112.83 million that exchanged hands.

The exchange rate at the parallel market remained flat on Thursday to close at N615/$1, the same as recorded. This is according to information from BDC operators. This is the lowest level that the local currency has fallen.


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