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Naira Depreciates Against Dollar...See Latest Exchange Rate

Posted by Thandiubani on Mon 01st Mar, 2021 - tori.ng

The Nigerian naira has continued to depreciate against the dollar at the exchange rate market.

Naira

The naira has depreciated against the dollar to close at N482/$1 on Friday, February 26 at the parallel market.

This represents 0.42% drop when compared to the N480/$1 that it closed on the previous trading day.

Also, at the official Investors and Exporters (NAFEX) window, the naira also depreciated against the dollar exchanging at N410.25/$1.

This is as the CBN Governor has suggested that the official exchange rate has been devalued.

However, forex turnover at the Investor and Exporters (I&E) window decreased by 79.3% from $212.43 million recorded on Wednesday to $43.97 million on Thursday 25th February 2021.

The Naira depreciated against the US Dollar at the Investors and Exporters window on Friday closing at N410.25/$1. This represents a 0.39% drop when compared to N408.67/$1 recorded on Thursday, February 25, 2021.