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.

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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

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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.

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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.