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Exchange rate falls at the NAFEX window as Nigeria’s external reserve dips $1 billion

Rate Captain by Rate Captain
May 31, 2021
in Currencies
Reading Time: 1 min read
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The exchange rate between the naira and the US dollar closed at N412/$1 at the Investors and Exporters forex window.

The naira depreciated against the US dollar on Friday at the official NAFEX window to close at N412 to a dollar. This represents a 0.24% decline compared to N411/$1 recorded on Thursday, 27th May 2021.

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Naira however remained stable on Friday at the parallel market to close at N495/$1 having depreciated from N493/$1 recorded on Thursday. Meanwhile, forex turnover declined by 55.5% to stand at $156.06 million on Friday.

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