Naira Appreciates Against Dollar At NAFEX, Also Gaining At The Black Market

The Naira appreciated against the dollar at the Investors and Exporters (I&E) window on Thursday, closing at N407.80/$1. 

This represents a N2.20 gain when compared with the N410/$1 that it closed on the previous trading day.

This is as Nigeria’s external reserve loses $994 million in 23 days.

According to information from Abokifx – a prominent FX tracking website, at the black market where forex is traded unofficially, the Naira appreciated against the Dollar to close at N477/$1 on Thursday – a N1 gain when compared with the N478/$1 that it exchanged for on Wednesday, February 17th

The exchange rate between the naira and the US dollar for today (Friday, February 19th 2021), stands at ₦477/US$1 in the parallel market.

See full exchange rate below. Kindly share

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