See what Naira falls to now at black market as crude oil prices lose steam
Monday, 28th June 2021: The exchange rate between naira and the US dollar closed at N411.08/$1 at the official forex market.
Naira appreciated against the US dollar to close at N411.08/$1 on Monday, representing a 0.09% gain compared to N411.67 to a dollar recorded on Friday, 25th June 2021.
On the other hand, the exchange rate at the parallel market depreciated by 0.4% to close at N502/$1 compared to N500/$1 recorded the previous day. Also, Nigeria’s forex reserve continues to plunge as it dipped about $27.29 million on Friday, 25th June 2021.
Trading at the official NAFEX window
Naira remained appreciated against the US dollar at the Investors and Exporters window on Monday to close at N411.28/$1 from N411.67/$1 recorded at the end of the previous week.
The opening indicative rate appreciated by 47 kobo to close at N411.08 to a dollar on Monday, 28th June 2021, as against N411.55/$1 recorded on Friday, 25th June 2021.
An exchange rate of N420.9 to a dollar was the highest rate recorded during intra-day trading before it settled at N411.28/$1, while it sold for as low as 400/$1 during intra-day trading.
Forex turnover at the Investors and Exporters (I&E) window declined by 12.3% on Monday, 28th June 2021.
Data tracked by Nairametrics from FMDQ revealed that forex turnover reduced from $114.53 million recorded on Friday, 25th June 2021 to $100.48 million on Monday.