The Nigerian naira has continued to depreciate against the dollar at the exchange rate market.
The naira has depreciated against the dollar to close at N482/$1 on Friday, February 26 at the parallel market. This represents 0.42% drop when compared to the N480/$1 that it closed on the previous trading day. Also, at the official Investors and Exporters (NAFEX) window, the naira also depreciated against the dollar exchanging at N410.25/$1. This is as the CBN Governor has suggested that the official exchange rate has been devalued. However, forex turnover at the Investor and Exporters (I&E) window decreased by 79.3% from $212.43 million recorded on Wednesday to $43.97 million on Thursday 25th February 2021. The Naira depreciated against the US Dollar at the Investors and Exporters window on Friday closing at N410.25/$1. This represents a 0.39% drop when compared to N408.67/$1 recorded on Thursday, February 25, 2021.
Source:https://www.tori.ng/news/164542/naira-depreciates-against-dollarsee-latest-exchang.html
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