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Naira gains at NAFEX window despite 26.2% drop in dollar supply

Rate Captain by Rate Captain
April 1, 2021
in Currencies
Reading Time: 1 min read
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The naira appreciated against the US Dollar on Wednesday, 31st March 2021, at the NAFEX window to close at N408.67 to a dollar.

 The exchange rate between the naira and the US Dollar closed at N408.67/$1 at the Investors and Exporters window.

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The naira appreciated against the US Dollar on Wednesday, 31st March 2021 gaining for the fifth consecutive day at the NAFEX window to close at N408.67 to a dollar despite a 26.2% drop in dollar supply.

This represents a 0.08% gain, when compared to N409/$1 recorded on Tuesday, 30th March 2021.

However, the naira remained stable at the parallel market, closing at N486/$1, the same rate recorded on the previous trading day.

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