The exchange rate between the naira and the US dollar closed at N416.67/$1 as Naira gained over US dollar.
This online news platform understands that Naira weakened further against the US dollar on Tuesday with a 0.04% fall to close at N416.67/$1 compared to N416.5/$1 recorded as of the close of trading activities on Monday, 7th February 2022. Naira depreciated at the official window despite the decrease in the demand for dollar.
On the other hand, Naira appreciated marginally at the parallel market on Wednesday 9th February 2022, to close at N569/$1 compared to N572/$1 recorded in the previous trading session.
This is according to information obtained from Lagos BDC operators .
Similarly, the exchange rate appreciated at the Peer-to-Peer (P2P) forex market, trading at a minimum of N574.17 to a dollar on Thursday morning. This represents a 0.057% uptick as opposed to N574.5/$ recorded in the previous trading session.
Meanwhile, Nigeria’s foreign reserve continued with a downtrend having reduced by 0.093% to close at $39.94 billion as of Monday, 7th February 2022.
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