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DOLLAR TO NAIRA EXCHANGE RATES Headlines

BREAKING: Naira Falls Massively As FX Turnover Drops To 3-Month Low
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DOLLAR TO NAIRA EXCHANGE RATES Headlines

BREAKING: Naira Falls To N1,500/$ In Parallel Market

DOLLAR TO NAIRA EXCHANGE RATES Headlines

Black Market Dollar To Naira (NGN) Exchange Rate Today 24th June 2024

DOLLAR TO NAIRA EXCHANGE RATES

BREAKING: Naira Falls Massively As FX Turnover Drops To 3-Month Low

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Naira Falls Massively As FX Turnover Drops To 3-Month Low, continue reading below.

 

Brand News Day Nigeria reports that the exchange rate between the naira and the US dollar closed at N416.75/$1 at the official Investors and Exporters (I&E) window, falling lower compared to N416.67/$1 recorded in the previous trading session.

READ: Black Market Dollar To Naira Exchange Rate Today Tuesday, February 22, 2022

This online news platform understands that the dollar to naira exchange rate depreciated further by 0.02% to close at N416.75/$1 on Friday, 18th February 2022 compared to N416.67/$1 recorded in the previous session. This represents the lowest level recorded at the official FX market since January 4, 2022.

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Similarly, BrandNewsDay reports that forex turnover fell to its lowest level in over 3 months, since the 16th of November 2021 to $64.03 million, representing a 49.59% decline compared to $127.02 million recorded in the previous trading session.

Naira Falls Massively As FX Turnover Drops To 3-Month Low

BREAKING: Naira Falls Massively As FX Turnover Drops To 3-Month Low

On the other hand, Naira closed flat at N575/$1 at the parallel market otherwise known as the black market on Friday, February 18, 2022, having fallen from N570/$1 in the previous trading session. This is according to information obtained from BDC operators in the parallel market.

 

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READ: Black Market Euro To Naira Exchange Rate Today Tuesday, February 22, 2022

 

Also, the dollar to naira exchange rate at the Peer-to-Peer (P2P) forex market depreciated by 0.43% to trade at a minimum of N581 to a dollar on Monday morning compared to N578.49/$1 recorded on Friday, 18th February 2022.

Trading at the official NAFEX window

 

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The dollar to naira exchange rate at the Investors and Exporters window closed at N416.75/$1 on Friday, 18th February 2022, representing a 0.02% depreciation compared to N416.67/$1 recorded in the previous trading session.

  • It is worth noting that the exchange rate depreciated continuously for the past three trading sessions.
  • The opening indicative rate closed at N415.85/$11 on Friday. This represents a 15 kobo appreciation as opposed to the N416/$1 recorded on Thursday, 17th February 2022.
  • An exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N416.75/$1, while it sold for as low as N410/$1 during intra-day trading,
  • Meanwhile, forex turnover at the official window decreased by 49.59% to $64.03 million on Friday, 18th February 2022.
  • According to data tracked by Nairametrics from FMDQ, forex turnover at the I&E window dropped to $64.03 million on Friday from $127.02 million recorded on Thursday 17th February 2022.
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