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Naira Depreciates Against Dollar, See Latest Exchange Rate

Posted by Thandiubani on Thu 07th Jul, 2022 - tori.ng

The exchange rate of the naira against dollar at the parallel market depreciated on Wednesday.

The naira has depreciated against the dollar at the parallel market.

This is as the exchange rate between the naira and the US dollar on Wednesday closed at N616/$1 compared to N613/$1 recorded on Tuesday, 5th July 2022, according to Nairametrics.

However, at the Investors and Exporters (I&E) window on Wednesday, the exchange rate stood at N427.75/$1 after reaching a peak of N431/$1.

Naira recorded a 0.52% appreciation against the US dollar on Wednesday to close at N427.75/$1 after hitting a year-to-date high on Tuesday, 5th July 2022 at N430/$1. Similarly, a total of $81.64 million exchange hands in the official market on Wednesday, according to information obtained from FMDQ website.