The exchange rate at the parallel market fell on Monday to close at N580/$1, representing a 1.22% decline compared to $573/$1 recorded in the previous trading session, according to information obtained from BDC operators.
Thank you for reading this post, don't forget to subscribe!
Nairametrics is reporting that FX turnover at the official market dropped by 40.23% to $80.32 million on Monday from $134.39 million recorded on Friday of the previous week. Recall that a total of $571.1 million was traded in the market in the previous week.
On the other hand, the exchange rate at the Peer-to-Peer (P2P) forex market appreciated by 1.276% to trade at N572.6/$1 in the early hours of Tuesday, 1st March 2022 compared to N580/$1 recorded on Monday morning.
The exchange rate at the Investors and Exporters window closed at N416.67/$1 on Monday, 28th February 2022, which represents a 0.16% depreciation compared to N416/$1 recorded in the previous month.
The opening indicative rate closed at N415.67/$1 on Monday, representing a 32 kobo depreciation compared to the N415.35/$1 recorded on Friday, 25th February 2022.
An exchange rate of N444/$1 was the highest rate recorded during intra-day trading before it settled at N416.67/$1, while it sold for as low as N410/$1 during intra-day trading,
