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Naira Continues Fall Against Dollar, See Latest Exchange Rate

Posted by Thandiubani on Fri 13th May, 2022 -

The latest naira and dollar exchange rate has been released with the naira suffering a loss.

The naira exchanged N590 to a dollar at the parallel market on Thursday, according to information obtained by Nairametrics.
This is as the exchange rate between the naira and the US dollar closed at N420/$1 at the official Investors and Exporters (I&E) window, falling by 0.3% from N418.25/$ recorded the previous day.
This represents the lowest level since the 4th of January 2022, when the exchange rate closed at N422/$1 at the I&E Window. Naira fell sharply despite a 38.19% increase in FX liquidity. A sum of $160 million in FX value exchanged hands at the official market on Thursday.
Also, the exchange rate against the US dollar gained 1.45% on Friday morning at the peer-to-peer market, trading at a minimum of N598.5/$1 compared to N607.32/$1 recorded as of the same time the previous day.

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