The US dollar exchange rate dropped to N462/$1 compared to a closing rate of ₦465/$1 recorded last week Friday.
The exchange rate at the I&E window is different from the CBN’s published exchange rate.
The naira was strengthened on Wednesday as it appreciated to N386.94 to a dollar at the Investors and Exporters (I&E) window, after the day’s trading session
The naira made a rebound in the foreign exchange market as it gained against the dollar at the parallel market.
The naira was weakened on the first working day of the week as it depreciated to N387.33 to a dollar at the Investors and Exporters (I&E)
The continuous rally of the local currency against the dollar can be attributed to the improved liquidity in the foreign exchange market due to the intervention...
Naira appreciated to N453 to a dollar on Thursday, May 28, 2020, which represents a N2 gain when compared to the N455 to a dollar that...
Naira appreciated to N455 to a dollar on Wednesday, the first working day of the week after the 2-day sallah break.
Rates in the parallel market will remain under pressure and we might see it above the N460 /$ levels it is currently trading at.
The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, has warned firms and individuals against patronizing the parallel market, popularly called the black market.
