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Naira Continues To Depreciate Against Dollar, See Latest Exchange Rate

Posted by Thandiubani on Thu 26th May, 2022 - tori.ng

The market has already seen the naira depreciate by 0.39% since the CBN announced the increase in interest rates.

 
The naira on Wednesday exchanged N609/$1 at the parallel market, according to a report by Nairametrics.
 
However, at the Investors and Exporters (I&E) window, naira closed at N418/$1, a 0.24% gain against the US dollar on Wednesday compared to N419/$1 recorded as of the close of trading activities on Tuesday, 24th May 2022.
 
Also, a total of $108.33 million in FX exchanged hands in the market on Wednesday, representing a 24.43% increase compared to $87.06 million traded in the previous session.
 
Exchange rate at the peer-to-peer market declined further by 0.07% to trade at $608.55 on Thursday morning, compared to N608.12/$1 recorded as of the same time the previous day.
 
The market has already seen the naira depreciate by 0.39% since the CBN announced the increase in interest rates.


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